Two oil residue tanks exploded on Sunday in Dalian, Northeast China’s Liaoning Province, leaving two critically injured and another two missing, local officials said. The two blasts occurred at around 2:30 pm within one minute of each other at a PetroChina refinery in the Ganjingzi district of the city, China Central Television quoted a maritime officer surnamed Liu as saying on Sunday. The Xinhua News Agency reported that the fire [...]

PETROCHINA Co, the world’s second biggest publicly traded oil company, is set to sell minority stakes in oil and gas fields as well as gas pipeline projects in west China to raise cash for overseas acquisitions, said a person familiar with the plans. Some agreements may be announced in the next few months, the person said. The pipelines offer near double-digit investment returns, the person said without identifying the assets. [...]

China National Petroleum Corp has completed six oil storage tanks on an island off western Myanmar from which two pipelines will carry fuel to China, and will soon finish six more. The link will allow China to bypass the Malacca Strait and ship oil from the Middle East and Africa via the Indian Ocean and a port on Maday island off the coast of Myanmar.

PETROCHINA Co plans to boost cooperation with overseas refiners, including Exxon Mobil Corp, BP Plc and Royal Dutch Shell Plc, as it seeks overseas resources, the country’s biggest oil and gas producer said yesterday. It also plans to increase imports of natural gas this year due to surging demand, Zhou Jiping, PetroChina’s chairman, said at a conference in Beijing yesterday. The purpose of cooperation is to seek acquisitions or joint [...]

Summary: “There are some who say that China National Petroleum Corp is limiting sales in order to pressure the government to raise prices, we absolutely do not have such an intention.” Zhou Jiping (周吉平), the newly-appointed Chairman of China National Petroleum Corp, has told domestic media that accusations that the company is deliberately limiting natural gas supplies in order to put pressure on the government to raise prices is false. [...]

Recent media reports claiming that PetroChina, the listed arm of CNPC, the nation’s top oil and gas producer, had restricted supplies of natural gas in some areas of the country in a bid to force a price spike were groundless, the company’s chief said Thursday. The tight supply of natural gas recently faced by some areas and industries was due to the company’s unintentionally normal moderation in supplies after excessive [...]

A senior government official and corporate executives in Southwest China’s Yunnan Province said Friday that the decision to allow a new chemical plant to begin production will be made by the public in response to protests staged last weekend. “The government will call off the project if most of our citizens say no to it,” said Li Wenrong, mayor of the provincial capital of Kunming. Li made the remarks at [...]

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 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 [...]