(Source: Bloomberg) Saudi Arabian Oil Co. agreed to build a refinery and petrochemical plant in China, deepening ties between world’s biggest oil seller and its largest importer. Saudi Aramco, as the company is known, and state-owned China North Industries Group Corp. signed an agreement Tuesday for an integrated refining and chemical […]
(Source: Reuters) China’s coal imports in the first four months of the year jumped 33.2 percent to 89.49 million tonnes, data showed on Monday as utilities and steel mills continued to buy cheaper foreign fuel as Beijing ramped up efforts to phase out overcapacity. Read full story….
(Source: China Daily) China’s photovoltaic power facilities generated 21.4 billion kilowatt-hours (kWh) of electricity in the first quarter, up 80 percent year on year. The amount accounted for 1.47 percent in the country’s total power generation, according to the National Energy Administration. Read full story….
(Source: Reuters) Beijing will encourage coal companies to merge and restructure to increase efficiency in the industry and take measures to return thermal coal prices to a “reasonable” range, according to China’s economic planning agency. The comment by the state planner, the National Development and Reform Commission (NDRC), came after a […]
(Source: Reuters) China’s coal imports from Russia jumped to their highest in nearly three years in March, customs data showed on Tuesday, as the world’s top buyer turned to alternative suppliers following its ban on imports from North Korea in February. Arrivals from Russia gained 19.5 percent to 2.3 million tons, […]
(Source: Reuters) Oil prices tumbled more than 2 percent on Friday, notching the biggest weekly decline in more than a month on mounting evidence that U.S. production and inventory growth were offsetting OPEC’s attempts to reduce the global crude glut. Brent futures LCOc1 settled at $51.96 a barrel, down $1.03, or […]