China's oil refinery utilization rates are easing from record third-quarter levels as thinning margins and a shortage of export quotas discourage plants from raising output for the rest of 2023, according to traders and industry consultancies.The drop in refining output could reduce crude demand from the world's top importer and cap global oil prices, pushing up China's crude inventories and dampening prices from top supplier Russia…
The EU will investigate subsidies received by Chinese suppliers of wind turbines destined for Europe, in the bloc's latest move to shield domestic firms from cheap clean tech products.The European Commission will look into conditions for the development of wind parks in Spain…
China and India lifted imports of seaborne thermal coal to three-month highs in March as the world's two biggest buyers took advantage of lower international prices of the fuel to meet strong domestic power demand.China, the world's biggest coal producer and importer…
Asia's imports of crude oil are expected to rise to the highest in 10 months as heavyweights China and India lifted arrivals from Russia, but impending maintenance schedules and rising prices mean such levels may not be sustained.The world's top importing region is forecast to see arrivals of 27…
Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions.Although China's 'teapots'…
The third phase of China's largest single coastal oil storage facility has been completed and went into operation on Wednesday in Qingdao port, in the eastern province of Shandong, the state media outlet China News reported.The third phase of…
A liquefied natural gas (LNG) cargo from Russia's Gazprom being sent via the Northern Sea Route (NSR) for the first time is destined for the Chinese port of Jingtang, Refinitiv ship tracking data shows.The Velikiy Novgorod tanker was loaded at the Portovaya LNG plant on the Baltic Sea on Aug…
Oil prices looked set to close down this week following seven weeks of gains, as China's economic woes eclipse signs of tight supply.The seven-week upswing in prices, galvanised by supply cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+)…
MAN Energy Solutions has announced the sale of its gas turbine business to China’s CSIC Longjiang GH Gas Turbine.CSIC Longjiang GH Gas Turbine (GHGT) develops small and medium-sized gas turbines in a 5 to 50 MW range as well as high performance and combustion technologies…
Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, hailing the investment by a country that Pakistan views as its most dependable ally.Work on the Chashma 5 project would begin immediately…
China's 2023 crude oil demand is expected to grow less than previously expected, as strong demand for electric vehicles weighs on gasoline demand, an expert at China National Petroleum Corporation's (CNPC) research arm said on Tuesday.The state…
India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations.That means the Kremlin is enjoying stronger revenues despite…
China's independent refiners are boosting their profits from processing low-priced Russian oil as western sanctions on Moscow give them leverage to negotiate for steeper discounts, industry sources and analysts said.The Group of Seven (G7) nations…
PetroChina International has taken delivery of a large liquefied natural gas (LNG) carrier from China's Hudong-Zhonghua Shipbuilding Group Ltd, the first of three tankers ordered under a joint venture with state shipping firms.The vessel Shaolin…
China's CNOOC Ltd has tapped commercial flows of oil and gas from a shale exploration well in the South China Sea, marking the first successfully drilled shale oil well offshore China, state media reported on Thursday.Exploration well Weiye-1…
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