https://www-scmp-com.libproxy1.nus.edu.sg/rss/60892/feed The latest news, analysis and opinion on China National Petroleum Corporation. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Delta Air Lines says for safety reasons it will require owners to provide more information before their animal can fly in the passenger cabin, including an assurance that it’s trained to behave itself. The airline says complaints about animals biting or peeing and pooping have nearly doubled since 2016. Starting March 1, Delta will require owners to show proof of their animal’s health or vaccinations at least 48 hours before a flight. Owners of psychiatric service animals and so-called... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/2129775/taking-your-dog-delta-air-lines-theyd-better-be-well?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/united-states-canada/article/2129775/taking-your-dog-delta-air-lines-theyd-better-be-well?utm_source=rss_feed Fri, 19 Jan 2018 20:31:47 +0000 Oil has been an important factor in several wars in the modern era. The US oil embargo against Japan in 1941 led to a Japanese strategic decision that included the attack on Pearl Harbour. Many critics of the US-led invasion of Iraq in 2003 allege the conflict was chiefly about the control of oil supplies. Now oil is emerging as an important issue in the North Korea nuclear weapons crisis. Washington and Pyongyang appear to be on course for a military clash that could easily escalate into a... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/geopolitics/article/2127071/full-oil-embargo-against-north-korea-even-possible?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/geopolitics/article/2127071/full-oil-embargo-against-north-korea-even-possible?utm_source=rss_feed Sun, 07 Jan 2018 01:32:36 +0000 A company called C.H.M.T Peaceful Development Asia Property yesterday agreed to pay Hong Kong’s tycoon Li Ka-shing a record HK$40.2 billion (US$5.15 billion) for the city’s fifth-tallest tower, in what agents say is the world’s most expensive transaction for a single building. Just who exactly is the buyer? According to several people familiar with the deal, a consortium that’s 55 per cent owned by a unit of China’s state oil behemoth is behind the purchase, and 45 per cent of it is shared by a... https://www-scmp-com.libproxy1.nus.edu.sg/property/hong-kong-china/article/2118175/chinas-state-oil-behemoth-gets-marquee-hong-kong-address?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/property/hong-kong-china/article/2118175/chinas-state-oil-behemoth-gets-marquee-hong-kong-address?utm_source=rss_feed Thu, 02 Nov 2017 11:00:10 +0000 China is offering to buy up to 5 per cent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world’s biggest oil producer on the stock market. Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal, industry sources told Reuters. The companies are part of a state-run consortium including China’s sovereign wealth... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/2115709/china-offers-buy-5-cent-aramco-directly-giving-it?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/2115709/china-offers-buy-5-cent-aramco-directly-giving-it?utm_source=rss_feed Tue, 17 Oct 2017 07:12:36 +0000 One of two rallies in the southwest in protest at controversial chemical plants went ahead yesterday, but a second was thwarted. Hundreds protested in Kunming, Yunnan province, but a march in Chengdu, Sichuan province, was prevented by police. The rallies were timed to coincide with the anniversary of the May 4 student demonstrations in Beijing in 1919. More than 1,000 people gathered in the centre of Kunming to oppose plans to build a petrochemical plant in the satellite city of Anning where... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/1230117/kunming-residents-rally-against-chemical-plant?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/1230117/kunming-residents-rally-against-chemical-plant?utm_source=rss_feed Sat, 04 May 2013 12:32:19 +0000 China National Petroleum Corp, the country's biggest oil company, is in talks with Eni for a stake in a gas project in Mozambique valued at as much as US$4 billion, according to two people with knowledge of the matter. Italy's largest oil firm might sell a 20 per cent stake in a gas block to CNPC to share the cost of developing the project, the people said, asking not to be identified because the talks are private. The companies had been in talks for at least six months and final terms had yet... https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/1185710/cnpc-talks-eni-us4b-gas-assets-mozambique?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/commodities/article/1185710/cnpc-talks-eni-us4b-gas-assets-mozambique?utm_source=rss_feed Thu, 07 Mar 2013 16:00:00 +0000 The chairman of China's biggest oil and gas producer has been questioned by the Communist Party's top discipline watchdog in relation to the Ferrari crash in Beijing earlier this year that claimed the life of the only son of Ling Jihua, party general secretary Hu Jintao's former top aide, sources say. They said the probe into China National Petroleum Corp (CNPC) chairman Jiang Jiemin focused on a large sum of money - several tens of millions of yuan - that was transferred from CNPC to the... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/1081916/oil-chief-quizzed-over-bid-cover-death-hu-aides-son-ferrari-crash?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/article/1081916/oil-chief-quizzed-over-bid-cover-death-hu-aides-son-ferrari-crash?utm_source=rss_feed Tue, 13 Nov 2012 16:00:00 +0000 7 overseas investors receive QFII licences China's securities regulator granted investment licences to seven overseas institutional investors last month, allowing them to buy Chinese stocks and bonds. Some of the qualified foreign institutional investor licences went to Duke University, Macquarie Bank, Qatar Holding and KDG Capital Management (HK). Reuters   Mine developer's shares leap 21.7pc Shares of IRC, a Hong Kong-listed developer of iron ore and related minerals mining projects in Far... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/1062793/business-digest-october-17-2012?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/1062793/business-digest-october-17-2012?utm_source=rss_feed Tue, 16 Oct 2012 16:00:00 +0000 The Afghan government has released details of scores of mining and energy contracts, including a major Chinese deal, in an effort to counter rampant corruption and bribery of officials that worries investors and donors. As the government finalises laws designed to attract more foreign mining investment, officials on Sunday made public 210 previously awarded contracts, including one signed last year with China National Petroleum Corp to develop three oil and gas blocks in the Amu Darya... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/1061803/kabul-publishes-mining-and-energy-contracts?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/article/1061803/kabul-publishes-mining-and-energy-contracts?utm_source=rss_feed Mon, 15 Oct 2012 16:00:00 +0000 Beijing yesterday reacted furiously to new Washington sanctions imposed on a Chinese bank owned and run by China National Petroleum Corporation (CNPC) over transactions with Iran. The Foreign Ministry said it would lodge an official protest and warned that America's move would damage Sino-US relations. It also urged the White House to revoke the sanction. 'The US sanctions against Chinese financial institutions badly violate rules governing international relations and hurt China's interests,'... https://www-scmp-com.libproxy1.nus.edu.sg/article/1008288/china-protests-us-bank-sanctions?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/1008288/china-protests-us-bank-sanctions?utm_source=rss_feed Wed, 01 Aug 2012 16:00:00 +0000 Lukoil, Russia's second-largest oil producer, is planning a secondary listing in Hong Kong within a year by buying back its issued shares and refloating them, a move that may get it a higher valuation than in Russia. The Moscow-based firm aims to buy back shares worth more than US$1 billion, vice-president Leonid Fedun said yesterday. It is in advanced talks that may lead to it hiring China International Capital Corporation and Renaissance Capital to handle its Hong Kong listing, he added. It... https://www-scmp-com.libproxy1.nus.edu.sg/article/1002459/lukoil-plans-secondary-listing-hong-kong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/1002459/lukoil-plans-secondary-listing-hong-kong?utm_source=rss_feed Tue, 29 May 2012 16:00:00 +0000 It is a blazing hot Saturday afternoon and the exhibition yard outside Yangon showing industrial products from Guangxi is deserted. The monsoon rain has yet to break and the heat is shimmering off the trucks, tractors and cement mixers. 'It's far too hot for anyone to come out here today,' said Leo Pann Lin, a regional sales manager for a subsidiary of the Hong Kong-listed Chinese company Sinotruk, as he rests in the shade. 'But we are not worried. There will be very good business in Myanmar for... https://www-scmp-com.libproxy1.nus.edu.sg/article/998602/open-business?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/998602/open-business?utm_source=rss_feed Wed, 18 Apr 2012 16:00:00 +0000 PetroChina plans to double its gas pipeline network and raise gas output by two-thirds in the next five years. The strategy comes despite an analyst's warning that it may rack up 13 billion yuan (HK$15.86 billion) this year in losses from gas imports because it cannot lift domestic prices. The losses would combine with a 23.4 billion yuan operating loss in the first half on its oil refining operation. Beijing was reluctant to lift retail prices out of fears it would stoke already high inflation.... https://www-scmp-com.libproxy1.nus.edu.sg/article/977210/petrochina-raise-gas-output-66pc?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/977210/petrochina-raise-gas-output-66pc?utm_source=rss_feed Thu, 25 Aug 2011 16:00:00 +0000 Two oil spills off the coast of Shandong province last month were far more serious than previously claimed by China National Offshore Oil Corporation (CNOOC), the central government admitted yesterday, blaming the oilfield's US operator, ConocoPhillips. The State Oceanic Administration said it was investigating the role of the US company, which holds a 49 per cent stake in the oilfield, and that it might demand compensation for environmental damage from the US oil giant. In the first... https://www-scmp-com.libproxy1.nus.edu.sg/article/972642/oil-spills-risk-under-reported?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/972642/oil-spills-risk-under-reported?utm_source=rss_feed Tue, 05 Jul 2011 16:00:00 +0000 PetroChina has walked away from a C$5.4 billion (HK$43 billion) stake acquisition in a natural gas project in Canada after it failed to reach agreement with Canadian energy firm Encana on the price and the details of the deal. China's largest oil and gas producer withdrew from negotiations due to 'differences in valuation judgment and transaction process', said its Beijing-based spokesman. 'But this has not affected PetroChina's overseas development plan and business strategy in North America.'... https://www-scmp-com.libproxy1.nus.edu.sg/article/971480/petrochina-quits-deal-canada-gas-firm-stake?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/971480/petrochina-quits-deal-canada-gas-firm-stake?utm_source=rss_feed Wed, 22 Jun 2011 16:00:00 +0000 How do you spell corporate governance? Some of the mainland's state-owned enterprises seem to be a bit slow to remedy a potential conflict of interest. On April 3, state media reported that Su Shulin, chairman of China Petroleum and Chemical Corp (Sinopec), moved to Fujian as the province's party head. On April 8, the organisation department of the Communist Party announced more changes. Fu Chengyu, chairman of China National Offshore Oil Corp (CNOOC), had replaced Su at Sinopec; and Wang Yilin,... https://www-scmp-com.libproxy1.nus.edu.sg/article/965260/corporate-governance-takes-back-seat-musical-chairs?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/965260/corporate-governance-takes-back-seat-musical-chairs?utm_source=rss_feed Fri, 15 Apr 2011 16:00:00 +0000 The overseas projects of China National Petroleum Corp (CNPC), parent of listed PetroChina, produced 75.82 million tonnes of crude oil last year, up 8.9 per cent from 2009, Xinhua reported. Overseas natural gas output surged 67 per cent to 13.7 billion cubic metres last year. The energy giant aims to have half its total oil and gas output come from overseas projects by 2015, and the other half from domestic ones. By the end of last year, CNPC had eight oil refineries overseas that are in... https://www-scmp-com.libproxy1.nus.edu.sg/article/737728/cnpc-crude-output-rises-89pc?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/737728/cnpc-crude-output-rises-89pc?utm_source=rss_feed Tue, 08 Feb 2011 16:00:00 +0000 China National Petroleum Corp (CNPC) is scheduled to sign a multibillion-dollar, 20-year deal today to buy fuel from what is expected to be Malaysia's largest oil refinery, part of an effort to enhance energy security and hedge domestic fuel price risks, sources said. The mainland's largest oil and gas producer is also in talks to buy a stake in the planned US$10 billion refinery, which is being developed by privately owned Merapoh. Building of the refinery in Kedah, northwest Malaysia, is to... https://www-scmp-com.libproxy1.nus.edu.sg/article/686859/cnpc-set-sign-deal-buy-malaysian-fuel?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/686859/cnpc-set-sign-deal-buy-malaysian-fuel?utm_source=rss_feed Tue, 14 Jul 2009 16:00:00 +0000 China National Petroleum Corp (CNPC), the country's largest oil and gas producer, may have recorded a 29.1 per cent decline in pre-tax profit last year, a mainland newspaper said. The parent of listed PetroChina paid just over 85 billion yuan (HK$96.4 billion) to the central government last year in oil revenues special levy, a form of windfall tax, China Business News quoted a company source as saying. The payment amounted to 62.42 per cent of CNPC's pre-tax profit last year, it added. This... https://www-scmp-com.libproxy1.nus.edu.sg/article/667678/oil-levy-payment-points-29pc-drop-cnpc-pre-tax-earnings?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/667678/oil-levy-payment-points-29pc-drop-cnpc-pre-tax-earnings?utm_source=rss_feed Tue, 20 Jan 2009 16:00:00 +0000 China National Petroleum Corp's (CNPC) overseas production set a record last year, although growth slowed. The parent of listed PetroChina, the country's largest oil and gas producer, recorded output of 62.2 million tonnes of crude oil abroad last year, the company said. That was up 3.27 per cent from 60.23 million tonnes in 2007. However, the growth rate slowed from 11.54 per cent in 2007 and 50 per cent in 2006, the year output was boosted by the acquisition of PetroKazakhstan. Overseas... https://www-scmp-com.libproxy1.nus.edu.sg/article/666293/cnpc-overseas-output-growth-slows-327pc?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/666293/cnpc-overseas-output-growth-slows-327pc?utm_source=rss_feed Thu, 08 Jan 2009 16:00:00 +0000 Canadian target owns oil and gas stakes in Libya China National Petroleum Corp, the largest oil company on the mainland, is bidding for Canadian-listed Verenex Energy in a deal valued at as much as US$300 million, sources said. A successful bid would widen CNPC's assets in Africa, as Verenex owns oil and gas deposits in Libya. Verenex said earlier that Libya's state-owned oil company had given approval for several international oil firms to look at technical data from its fields. 'The... https://www-scmp-com.libproxy1.nus.edu.sg/article/663837/cnpc-eyes-us300m-verenex-energy-deal?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/663837/cnpc-eyes-us300m-verenex-energy-deal?utm_source=rss_feed Sun, 14 Dec 2008 16:00:00 +0000 CNPC (Hong Kong), a unit of the country's largest oil company, said high exploration costs helped contribute to a 20 per cent fall in profit last year to HK$1.37 billion on sales of HK$3.84 billion, down 1.3 per cent. The company plans a 12 HK cents dividend in June, subject to approval. The company said exploration activity was raised to benefit from high global oil prices, but had yet to realise earnings gains. Stripping out oilfield exploration expenses during 2007, profit after tax... https://www-scmp-com.libproxy1.nus.edu.sg/article/633670/exploration-expenses-eat-earnings?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/633670/exploration-expenses-eat-earnings?utm_source=rss_feed Sun, 13 Apr 2008 16:00:00 +0000 Mainland companies including China National Petroleum Corp have expressed interest in Repsol YPF, the fifth-largest oil and gas company in the world, which is considering restarting the sale of its Latin American assets that could be valued at US$10 billion, sources said. CNPC and its listed subsidiary PetroChina operate equal joint venture CNPC Exploration for overseas acquisitions. Parent CNPC also makes acquisitions on its own. 'I can't comment on whether there has or hasn't been any... https://www-scmp-com.libproxy1.nus.edu.sg/article/633671/cnpc-interested-repsol-assets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/633671/cnpc-interested-repsol-assets?utm_source=rss_feed Sun, 13 Apr 2008 16:00:00 +0000 Sales at China National Petroleum Corp (CNPC) reached one trillion yuan (HK$1.1 trillion) last year as the nation's largest oil and gas company and parent of listed PetroChina expanded its oil and gas production. The oil giant passed the milestone despite difficult times highlighted by its suffering multibillion-dollar losses at its refining division because of Beijing's domestic fuel price controls. CNPC's turnover rose 24.06 per cent to one trillion yuan, up from 879.1 billion yuan in... https://www-scmp-com.libproxy1.nus.edu.sg/article/630780/cnpc-sales-reach-1-trillion-yuan-mark?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/630780/cnpc-sales-reach-1-trillion-yuan-mark?utm_source=rss_feed Fri, 21 Mar 2008 16:00:00 +0000 China National Petroleum Corp (CNPC), the parent of listed PetroChina, has lifted offshore oil output by 11.54 per cent to a record 60.23 million tonnes. However, the increase was still lower than the 50 per cent growth notched up in 2006 when output was swelled by CNPC's acquisition of PetroKazakhstan's assets. The oil major's overseas output still far outstripped its domestic output, which grew by one million tonnes, or just 0.94 per cent from 106.6 million tonnes in 2006. Mainland oil firms... https://www-scmp-com.libproxy1.nus.edu.sg/article/621763/cnpc-offshore-oil-output-rises-115pc-record-602m-tonnes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/621763/cnpc-offshore-oil-output-rises-115pc-record-602m-tonnes?utm_source=rss_feed Fri, 04 Jan 2008 16:00:00 +0000 PetroChina, the nation's largest oil and gas producer, has developed technology to exploit more than one billion tonnes of oil reserves from its largest and oldest oilfield, Daqing, in Heilongjiang province, but it remains unclear as to whether the advancement would add much to oil output. The so-called well-fracturing method would help PetroChina drill reserves at Changyuan oilfield, Daqing's major field, reported China National Petroleum Corp (CNPC), the Hong Kong and Shanghai-listed company's... https://www-scmp-com.libproxy1.nus.edu.sg/article/621513/petrochina-plans-daqing-oil-boost?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/621513/petrochina-plans-daqing-oil-boost?utm_source=rss_feed Wed, 02 Jan 2008 16:00:00 +0000 China National Petroleum Corp, the largest oil producer on the mainland, has had its acquisition of United States-based Devon Energy's West African assets thrown into doubt over valuation disagreements, according to sources. CNPC several weeks ago topped a number of competitors with the highest bid of more than US$2 billion for the oil and gas assets that Devon put on the block. The bid was short of the US$2.5 billion it earlier indicated was a fair price. Now, after weeks of talks, a deal... https://www-scmp-com.libproxy1.nus.edu.sg/article/608192/cnpc-deal-devon-assets-stalls-over-price?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/608192/cnpc-deal-devon-assets-stalls-over-price?utm_source=rss_feed Sun, 16 Sep 2007 16:00:00 +0000 The CNPC/PetroChina joint venture made two attempts this year to acquire all the Latin American assets of Repsol YPF, Spain's largest oil company, valued at about US$20 billion, but did not proceed, sources said. A first attempt stumbled over the structure the joint venture proposed to Repsol for the acquisition, a source said, but declined to give details. The second try saw the joint venture attempt to bring together a consortium of foreign investors including private equity and hedge... https://www-scmp-com.libproxy1.nus.edu.sg/article/608189/repsol-latin-america-asset-bids-fail?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/608189/repsol-latin-america-asset-bids-fail?utm_source=rss_feed Sun, 16 Sep 2007 16:00:00 +0000 CNPC Exploration, the equal joint venture between China National Petroleum Corp and its Hong Kong-listed subsidiary PetroChina, is considering bidding for Australian petroleum and gas producer Oil Search for as much as US$5 billion, sources said. Some European oil companies were also looking at the target, the sources said. The process was in the early stages and could end with little achieved, they added. Oil Search owns reserves in Papua New Guinea, Yemen, Egypt and Libya. Its annual... https://www-scmp-com.libproxy1.nus.edu.sg/article/608196/cnpc-unit-eyes-oil-search-us5b?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/608196/cnpc-unit-eyes-oil-search-us5b?utm_source=rss_feed Sun, 16 Sep 2007 16:00:00 +0000 Shares of property investor and building materials wholesaler Orient Resources Group surged as much as 46 per cent after chairman and controlling shareholder Zhong Hongwei announced an injection of HK$7.28 billion in oil assets. The shares traded as high as HK$2.57 before closing up 39.2 per cent at HK$2.45 amid a global share market rout, as investors bet that the move into the oil business would enhance profit. Orient Resources has signed an agreement to acquire from United Petroleum &... https://www-scmp-com.libproxy1.nus.edu.sg/article/604494/orient-resources-shares-surge-oil-asset-deal?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/604494/orient-resources-shares-surge-oil-asset-deal?utm_source=rss_feed Thu, 16 Aug 2007 16:00:00 +0000 PetroChina, the nation's largest oil and gas producer, will partner United States-based energy major Chevron Corp to develop high-sulphur gas fields in northeastern Sichuan province, a project that has proved difficult and accident-prone in the past. A source close to the companies said a production-sharing contract had been signed, under which PetroChina and Chevron will share development costs and output from the fields on a 51-49 percentage basis. PetroChina would have the larger... https://www-scmp-com.libproxy1.nus.edu.sg/article/603416/petrochina-taps-chevron-sichuan-gas-field-development?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/603416/petrochina-taps-chevron-sichuan-gas-field-development?utm_source=rss_feed Tue, 07 Aug 2007 16:00:00 +0000 China National Petroleum Corp (CNPC), parent of PetroChina, has acquired a majority stake in a gas distributor owned by the Zhuhai municipal government in a move seen to counter a recent alliance between rivals China National Offshore Oil Corp and China Petrochemical Corp. CNPC had bought an 85 per cent stake in Zhuhai Piped Gas, a unit of Zhuhai Gas Group, for 57.5 million yuan, a Zhuhai Piped Gas official said. Representatives of CNPC and PetroChina could not be reached. Zhuhai Piped Gas... https://www-scmp-com.libproxy1.nus.edu.sg/article/601870/cnpc-joins-gas-distribution-fray?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/601870/cnpc-joins-gas-distribution-fray?utm_source=rss_feed Wed, 25 Jul 2007 16:00:00 +0000 China National Petroleum Corp, parent of Hong Kong-listed PetroChina, has won its first licence to develop oil-sand fields in Canada, in the process becoming the first mainland oil company to garner a controlling interest in such a project. CNPC recently won a mineral rights auction to mine the tar-like extra-heavy crude oil in Alberta province covering 258.6 square kilometres, Shanghai Securities News reported, citing an unidentified international business development head. The project... https://www-scmp-com.libproxy1.nus.edu.sg/article/598721/cnpc-wins-right-work-oil-sands-alberta?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/598721/cnpc-wins-right-work-oil-sands-alberta?utm_source=rss_feed Fri, 29 Jun 2007 16:00:00 +0000 PetroChina will take over the management of parent company China National Petroleum's refining and petrochemical assets in Daqing, Heilongjiang province, which may lead to their injection into the listed company. The management of Daqing Petroleum and Chemical will be transferred to PetroChina from July 1. No figures have been disclosed except that Daqing Petroleum has 6.5 billion yuan of assets and 18,000 employees, and that it aims to have a turnover of 12.7 billion yuan in 2010,... https://www-scmp-com.libproxy1.nus.edu.sg/article/598257/petrochina-manage-daqing-petroleum?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/598257/petrochina-manage-daqing-petroleum?utm_source=rss_feed Mon, 25 Jun 2007 16:00:00 +0000 Norway's Statoil is in discussions with PetroChina parent company China National Petroleum Corp on swapping assets with the mainland oil giant, in a deal that would give CNPC its first oil and gas holdings in Europe. If realised, the deal might also allow Statoil, with daily output of 1.1 million barrels of oil equivalent (boe), to expand its presence in the mainland where its only investment is a 75 per cent stake in a marginally viable offshore oil field about 250km south of Hong... https://www-scmp-com.libproxy1.nus.edu.sg/article/590639/cnpc-statoil-asset-swap-talks?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/590639/cnpc-statoil-asset-swap-talks?utm_source=rss_feed Thu, 26 Apr 2007 16:00:00 +0000 CNPC (Hong Kong), an oil and gas producer unit of China National Petroleum Corp, posted 16.6 per cent growth in after-tax operating profit to HK$2.25 billion for last year, buoyed by higher oil prices and output. However, net profit tumbled 52.4 per cent to HK$1.73 billion, as the company lacked comparable one-off gains to match the HK$1.7 billion accounting gain from the acquisition of an oil asset in Kazakhstan in 2005 at a discount to its net asset value. Net profit is 9.6 per cent lower... https://www-scmp-com.libproxy1.nus.edu.sg/article/588694/cnpc-net-plunges-52pc-hk17b?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/588694/cnpc-net-plunges-52pc-hk17b?utm_source=rss_feed Thu, 12 Apr 2007 16:00:00 +0000 Oil, pulp and paper and steel productions may be considered among the most hazardous industries environmentally and socially, yet companies in these sectors have topped the Hurun Report's list of the most socially responsible businesses on the mainland. China National Petroleum Corp (CNPC), the major oil producer and the parent of Hong Kong-listed PetroChina, topped the list of biggest corporate givers and most socially responsible firms. Hurun, a Shanghai-based wealth-tracking firm,... https://www-scmp-com.libproxy1.nus.edu.sg/article/588528/companies-hazardous-sector-top-list-socially-responsible?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/588528/companies-hazardous-sector-top-list-socially-responsible?utm_source=rss_feed Tue, 10 Apr 2007 16:00:00 +0000 The National Audit Office has begun to audit four state enterprises, including China National Petroleum Corp, and the Ministry of Railways. China Huadian Corp, Harbin Power Plant Equipment Corp and China Resources are also being audited. Deputy Auditor-General Yu Xiaoming said CNPC would be audited in four main areas: accuracy of its internal audit, procedures for key decision-making, business operations considered irregular and management of state assets. For the Ministry of Railways,... https://www-scmp-com.libproxy1.nus.edu.sg/article/586650/auditor-focuses-four-state-firms?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/586650/auditor-focuses-four-state-firms?utm_source=rss_feed Mon, 26 Mar 2007 16:00:00 +0000 Officials from inland provinces have lashed out at rich coastal regions for grabbing resources without adequate compensation. Delegates to the National People's Congress urged Beijing to let the western provinces levy duties on natural resources development, saying it would help expand their economies. Speaking at a group discussion attended by Public Security Minister Zhou Yongkang , Sichuan delegates voiced grievances over the resources drain. 'We need to make use of our natural... https://www-scmp-com.libproxy1.nus.edu.sg/article/584250/western-areas-call-levies-use-resources?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/584250/western-areas-call-levies-use-resources?utm_source=rss_feed Wed, 07 Mar 2007 16:00:00 +0000 Group the latest mainland state company to issue such data separately from annual financial accounts China National Petroleum Corp, the nation's largest oil producer, yesterday released its first corporate social responsibility report as it seeks to measure up to international corporate practices. CNPC, the parent firm of listed PetroChina, in the 69-page report detailed accomplishments in workplace safety, environment protection, greenhouse gas reduction, clean energy development and social... https://www-scmp-com.libproxy1.nus.edu.sg/article/583419/cnpc-report-shoulders-corporate-social-responsibility?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/583419/cnpc-report-shoulders-corporate-social-responsibility?utm_source=rss_feed Thu, 01 Mar 2007 16:00:00 +0000 China National Petroleum Corp (CNPC), the nation's second-largest oil refiner and parent of listed PetroChina, aims to raise its oil refining volume 5.26 per cent this year and spend 23.4 billion yuan to expand its processing capacity and related facilities. The company planned to refine 122.1 million tonnes this year, CNPC said. Last year's volume was 116 million tonnes, vice-president Duan Wende told mainland media earlier this month. CNPC said it aimed to increase its refined oil sales to... https://www-scmp-com.libproxy1.nus.edu.sg/article/580366/cnpc-eyes-output-rise-23b-yuan-expansion?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/580366/cnpc-eyes-output-rise-23b-yuan-expansion?utm_source=rss_feed Wed, 31 Jan 2007 16:00:00 +0000 A-share offer will follow domestic bond sale to fund purchase of drilling rigs and other field equipment China Oilfield Services, the largest provider of equipment and services to Chinese oil companies, plans to raise as much as 1.6 billion yuan from an initial public offering in the mainland, people familiar with the situation said. The A-share offering - part of an almost six billion yuan, two-year fund-raising programme - would come after the completion of a domestic bond sale of up to... https://www-scmp-com.libproxy1.nus.edu.sg/article/579963/china-oilfield-eyes-16b-yuan-listing?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/579963/china-oilfield-eyes-16b-yuan-listing?utm_source=rss_feed Sun, 28 Jan 2007 16:00:00 +0000 China's largest oil and gas producer will raise spending 25pc to 250b yuan as production from mature oil fields dwindles China National Petroleum Corp (CNPC), the nation's largest oil and gas producer, will raise investment in production and distribution capacity by 25 per cent to 250 billion yuan this year, as it strives to offset dwindling output from mature oil fields and lift gas production. CNPC, the parent company of Hong Kong and New York-listed PetroChina, aims to raise its natural gas... https://www-scmp-com.libproxy1.nus.edu.sg/article/578009/cnpc-boosts-investment-lift-output?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/578009/cnpc-boosts-investment-lift-output?utm_source=rss_feed Tue, 09 Jan 2007 16:00:00 +0000 CNPC completes stake sale to kazmunaigaz China National Petroleum Corp (CNPC) has completed the sale of a 33 per cent stake in PetroKazakhstan to Kazakhstan oil and gas firm KazMunaiGaz as part of conditions of CNPC's acquisition of PetroKazakhstan for US$4.18 billion in October last year, Xinhua quoted an unnamed CNPC source as saying. power firm sells A shares Guangdong No2 Hydro-power Engineering, owned by the local government, plans to raise about 383 million yuan by selling 90 million... https://www-scmp-com.libproxy1.nus.edu.sg/article/557009/brief?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/557009/brief?utm_source=rss_feed Mon, 17 Jul 2006 16:00:00 +0000 PetroChina will open nine exploration blocks in the Xinjiang autonomous region of the country's western hinterland to foreign investors in what is billed as the largest onshore Sino-foreign oil co-operation scheme in 12 years. The move will help unlock potential resources in the under-explored region and bolster supply for the 3,800km Xinjiang-to-Shanghai gas pipeline. The nation's largest oil and gas producer has earmarked 110,000 square kilometres of exploration area in the southwest,... https://www-scmp-com.libproxy1.nus.edu.sg/article/556484/petrochina-courts-foreigners-oil-blocks?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/556484/petrochina-courts-foreigners-oil-blocks?utm_source=rss_feed Thu, 13 Jul 2006 16:00:00 +0000 CNPC (Hong Kong) has signed a letter of intent to buy a 70 per cent stake in an oil and gas firm operating in Indonesia, and provide US$60 million of loans to fund its exploration and development expenditure. The deal may further diversify the company's mixture of projects that spans from Xinjiang Autonomous Region and Liaoning province on the mainland, to Azerbaijan, Myanmar, Oman, Peru and Thailand. CNPC (Hong Kong), a local investment arm of China's largest oil and gas producer, China... https://www-scmp-com.libproxy1.nus.edu.sg/article/556257/cnpc-buy-70pc-oil-and-gas-firm-indonesia?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/556257/cnpc-buy-70pc-oil-and-gas-firm-indonesia?utm_source=rss_feed Tue, 11 Jul 2006 16:00:00 +0000 Hopes remain despite Beijing's choice of rival as only mainland strategic investor in Russian firm's US$11.6b offer China Petrochemical may still participate in its Russian partner Rosneft's US$11.6 billion initial public offering as an institutional investor although Beijing has picked rival China National Petroleum Corp (CNPC) as Rosneft's only mainland strategic investor, a source close to China Petrochemical says. State-owned oil major China Petrochemical, parent of listed China Petroleum... https://www-scmp-com.libproxy1.nus.edu.sg/article/554404/sinopec-still-seeks-rosneft-stake?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/554404/sinopec-still-seeks-rosneft-stake?utm_source=rss_feed Mon, 26 Jun 2006 16:00:00 +0000 Consortium beats international groups to secure the mainland's largest overseas construction project A mainland consortium has defeated major international competitors to win a US$7 billion contract to build a highway in Algeria, the largest overseas construction project secured by Chinese companies. Citic Group and China Railway Construction Corp (CRCC) were awarded the contract by the Algerian government ahead of several other consortiums, including those led by Bouygues of France, Bechtel... https://www-scmp-com.libproxy1.nus.edu.sg/article/549330/china-firms-win-us7b-algerian-deal?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/549330/china-firms-win-us7b-algerian-deal?utm_source=rss_feed Thu, 18 May 2006 16:00:00 +0000 Shares of CNPC (Hong Kong) shot up as much as 29.66 per cent yesterday after the oil and gas projects investor reported a greater than expected rise in net profit. The overseas investment unit of PetroChina parent China National Petroleum Corp saw its share price close at $4.20, up 15.86 per cent from Tuesday. The stock saw a hefty turnover of $1.01 billion. On Tuesday night, the firm posted a 374.53 per cent jump in net profit to $3.64 billion, as turnover rose 33.36 per cent to $3.37... https://www-scmp-com.libproxy1.nus.edu.sg/article/544546/earnings-surprise-propels-cnpc?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/544546/earnings-surprise-propels-cnpc?utm_source=rss_feed Wed, 12 Apr 2006 16:00:00 +0000 China and India, the world's two emerging giants of energy consumption, are reportedly preparing to work together to buy oil and gas assets around the globe to fuel their growing economies. India's petroleum minister, Mani Shankar Aiyar, plans to visit Beijing in November to work out ways for state-owned companies of the two nations to bid jointly for energy exploration and production rights wherever it is in their mutual interest. In theory, it makes sense for China and India to co-operate.... https://www-scmp-com.libproxy1.nus.edu.sg/article/514480/oil-fuels-regional-rivalry?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/514480/oil-fuels-regional-rivalry?utm_source=rss_feed Thu, 01 Sep 2005 16:00:00 +0000