The first batch of 5,000-ton Chinese gasoline imports entered the Mongolian market on Thursday. The imports, known as “Mongolia No. 93 gasoline,” were part of an agreement reached earlier in the year by the Mongolian government and the China National Petroleum Group, Mongolian officials said. Under the cooperative project launched at the end of March, Mongolia will import a monthly total of 10,000 tons of gasoline from a refinery in [...]

Editor’s note: This is the seventh in a regular series of reports brought together under the banner “Lost Horizons”, which aim to show life in the less-reported areas of the country and to give a voice to those whose words often go unheard. Slideshows and video footage are also available at www.chinadaily.com.cn/video A truck laden with equipment for oil rigs bounced along a dried riverbed dotted with huge red wind- [...]

Sinopec Engineering (Group) Co., a subsidiary of China’s largest oil refiner Sinopec Group, announced Thursday that it will issue H-shares globally and will be listed on the main board of the Hong Kong Limited Stock Exchange in late May. Of the 1.328 billion H-shares it plans to issue globally, 5 percent will be initially offered during the Hong Kong public offering, the company said. The indicative price range will be [...]

The petrochemical industry’s practice of subsidizing oil refining businesses with earnings from chemical businesses has been severely tested. Marketization is the industry’s only way out. Lingering smog hovering over North China, especially Beijing, over the winter and spring triggered a wave of public discontent. Environmental protection authorities believe automobile exhaust to be a primary cause of the smog, saying that low-quality gasoline and diesel are used to fuel cars in [...]

For years CNPC and Gazprom were deadlocked over prices, but recent changes in global conditions nudged them toward an agreement President Xi Jinping’s state visit to Russia in late March brought advances that could end nine years of tough talks between China and its northern neighbor over natural gas transmission. China National Petroleum Corp. (CNPC), the country’s largest producer of gas, signed a memorandum of understanding with Russian energy giant [...]

CHINA’S largest offshore oil producer said yesterday it has inked an agreement to buy liquefied natural gas from BG Group and increased its stakes in a LNG project in Australia. Under the contract, the China National Offshore Oil Corp will buy 5 million tons per annum (mtpa) of LNG, starting in 2015, from BG Group’s global LNG portfolio for 20 years. By then, the CNOOC’s mid-and-long-term LNG contracted volumes will [...]

Australian Minister for Resources and Energy Gary Gray Monday welcomed the signing of a binding liquefied natural gas (LNG) agreement that secures 1.93 billion US dollars of investment in Australian resources. BG Group, one of the world’s largest LNG companies, and the China National Offshore Oil Corporation (CNOOC), Monday signed binding agreements in which CNOOC will acquire a greater interest in the first of two production trains of the Queensland [...]

China National Petroleum Corporation (CNPC), the country’s largest natural gas producer, denied Monday that it has reduced gas supplies as a precursor to raising prices, saying that it will supply gas as scheduled. “The supply of natural gas in winter is huge, due to the demand for heating. The company often has to provide an oversupply of gas to make sure residents’ heating will not be affected during the winter,” [...]

Protests over the weekend against two large petrochemical projects built in close proximity to residential areas in Southwest China’s Yunnan and Sichuan provinces again sparked questions about the opaque process of environmental impact assessments. Thousands of residents in Kunming, the capital of Yunnan, gathered in the city center on Saturday afternoon to oppose a large oil refinery project by the China National Petroleum Corporation (CNPC). The project, located in the [...]

China’s largest offshore oil producer announced on Monday that it has inked an agreement to buy liquefied natural gas (LNG) from BG Group and increased its stakes in an LNG project in Australia. Under the contract, the China National Offshore Oil Corporation (CNOOC) will purchase five million tonnes per annum (mtpa) of LNG, starting in 2015, from BG Group’s global LNG portfolio for 20 years. By then, the CNOOC’s mid-and-long-term [...]