PetroChina Executives Told to Hand in Passports
Amid a widening probe into the oil industry, officers of PetroChina have had their passports...
PetroChina
Sichuan Tycoon Reportedly Detained in Ongoing Crackdown
Wu Bing, a Sichuan-based tycoon linked to the oil industry and embattled former security chief...
Powerful Oil Clique at Center of Probes
Some analysts speculate that the recent series of anti-corruption investigations into some of...
Graft Inquiry Sweeps Up Billionaire Oil Entrepreneur
Following recent anti-corruption investigations into former China National Petroleum Corporation...
Fire Breaks Out at China Refinery
A fire broke out at a Dalian PetroChina oil refinery but was reportedly put out after a few hours. From Voice of America: China’s state news agency says a fire broke out at an oil refinery in the northeastern coastal city...
China’s Crude Oil Demand to Rise 14% by 2015, PetroChina Says
At a conference in Singapore, PetroChina analysts said China’s crude oil demand will increase in the future by 14%. From Bloomberg News: China’s crude oil consumption will rise 14 percent by 2015 compared with last year as...
Drive to Tap into China Demand Spurs Partnerships
The Financial Times reports on a slew of new deals which have Western oil companies cooperating with Chinese partners on various projects around the globe: Royal Dutch Shell has teamed up with PetroChina for a joint bid for...
PetroChina Buys Oil Sands Project
From Fort McMurray Today (Canada): China’s biggest oil company is on its way to the oilsands region. In a statement released yesterday, Minister of Industry Tony Clement announced that he had approved an application by...
China’s Sinopec Secures Gas from Exxon Mobil in Papua New Guinea
Government-owned Sinopec has agreed to buy two million tonnes of natural gas annually from Papua New Guinea to feed its growing economy: Earlier this year another big Chinese energy company, PetroChina Limited, secured a similar...
Venezuela and China Boost Ties With Refinery Deal
Brian Ellsworth reports for Reuters from Caracas: Venezuela and China have agreed to build a refinery in China to process Venezuelan oil, advancing leftist President Hugo Chavez’s push to boost ties between the OPEC nation...
China Fuel Wholesalers to Keep Over 15 Days’ Stocks
The Chinese government tries to abate the continuing fuel shortages by ordering its two major oil firms to increase their oil storage. From Reuters: China will from May 1 require wholesalers of refined oil products to maintain...
China’s Champions: Why State Ownership Is No Longer Proving A Dead Hand
Private Chinese companies have been investing abroad for a while, but now even state-owned companies are making their mark outside of the Mainland. From the Financial Times : When the Aluminium Corporation of China acquired a 9...
Chinese Diplomacy ‘Hijacked’ By Big Companies
Chinese Big Oil is influencing the country’s foreign policy, especially when it comes to supporting Sudan’s military. From the Financial Times : Overseas investment by Chinese companies in countries such as Sudan...
EU Boycotts China Oil Firm Over Funding Of Darfur Regime
From The Independent: The European Parliament has disinvested in a firm accused of being one of the chief bankrollers of the Sudanese regime’s military campaign in Darfur after pressure from MEPs and human rights...
China’s IPO Feeding Frenzy Leaves Sour Taste
From the Financial Times: When PetroChina listed its shares in Shanghai last November, the headline around the world was that PetroChina had a market capitalisation of more than $1,000bn – making it the planet’s most valuable...
Updated: Chinese IPOs to Reach Annual Record – Sundeep Tucker
PetroChina, worth more than $1 trillion, surged past Exxon Mobil as its shares nearly tripled in their first day of trading in Shanghai. Alibaba.com went public in Hong Kong Stock Exchange on Nov. 6th, with a market cap of $8.8 billion. The Chinese stock market, IPOs and stock prices are once again the focus of […]
Chinese IPOs to Reach Annual Record – Sundeep Tucker
PetroChina, worth more than $1 trillion, surged past Exxon Mobil as its shares nearly tripled in their first day of trading in Shanghai. Alibaba.com went public in Hong Kong Stock Exchange on Nov. 6th, with a market cap of $8.8 billion. The Chinese stock market, IPOs and stock prices are once again the focus of […]
PetroChina’s Value Tops $1 Trillion, Surpassing Exxon – Ying Lou
From Bloomberg: PetroChina Co. almost tripled on its first day of trading in Shanghai, becoming the world’s first company to be valued at $1 trillion, larger than the entire Russian stock market. PetroChina shares rose to 43.96 yuan from the sale price of 16.7 yuan, giving the state-owned oil producer a greater market value than […]
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