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  1. China casts a wide net for petroleum security

    Posted May 26th 2009, 12:00am by Michael Richardson

    ... a major expansion of oil refining capacity last week and said it would start building state reserves of refined petroleum products to protect against a supply disruption. China has also been ...

  2. Sinopec reaches C$8.27b deal to acquire Addax Petroleum

    Posted Jun 25th 2009, 12:00am by Staff Reporter

    ... Tim LeeMaster China Petrochemical Corp, the second-largest oil company on the mainland, has agreed to pay C$8.27 billion (HK$56.01 billion) for Addax Petroleum Corp, a Toronto and London-listed firm that owns assets in Africa and Iraq. Sinopec, through unit Sinopec International Petroleum Exploration and Production Corp, is offering C$52.80 for each Addax share, or a 47 per cent ...

  3. Citic Resources cuts outlay on Kazakh field

    Posted Apr 15th 2009, 12:00am by Eric Ng

    ... Eric Ng Oil and metals producer Citic Resources Holdings and its partner have slashed this year's spending to boost future output growth in their oil project in Kazakhstan. This was after cash inflows dwindled on the back of the sharp plunge in oil p ...

  4. Oil at US$70 might prove to be a bargain

    Posted Jun 09th 2009, 12:00am by Kevin Rafferty

    ... a barrel oil will be here as soon as the global economy gathers steam, probably by the end of the year. To maintain prices, the Organisation of Petroleum Exporting Countries is trying to police ...

  5. Strong Petrochemical eyes storage projects

    Posted Jul 14th 2009, 12:00am by Eric Ng

    ... Eric Ng Strong Petrochemical Holdings plans to spend 355 million yuan (HK$402.68 million) on two mainland oil and petrochemical storage projects by mid-2011 so that it can enter the country's fuel wholesaling market. The company, which listed in Hong Kong in January, buys crude oil, petroleum and petrochemicals from international oil producers through its Hong Kong and Macau ...

  6. Beijing honours profit pledge by raising refiners' fuel prices

    Posted Jun 30th 2009, 12:00am by Eric Ng

    ... and diesel 6.4 per cent, both an increase of 400 yuan a tonne. China Petroleum & Chemical Corp (Sinopec), Asia's largest oil refiner, said last month the company's refining operations ...

  7. Profit margins to fall if oil exceeds US$80, says NDRC circular

    Posted May 09th 2009, 12:00am by Eric Ng

    ... Eric Ng Mainland refiners will see shrinking profit margins if international oil prices exceed US$80 a barrel, but losses will be mitigated by government financial assistance if they surpass US$130 a barrel, a central government circular says. While the c ...

  8. Mainland gives refiners 5pc gain under new rules

    Posted May 07th 2009, 12:00am by Eric Ng

    ... Eric Ng Mainland oil refiners are allowed a 5 per cent profit under a new fuel retail pricing mechanism implemented by the central government in December last year, PetroChina has revealed. Some analysts said the margin was not guaranteed, as Beijing migh ...

  9. Oil

    Posted Mar 04th 2009, 12:00am by Chris King

    ... Compiled by Chris King Syrup Oil is a liquid a little bit like syrup. It doesn't mix with water. It can be black or brown, depending on the type. It is used as a fuel. When it burns it makes heat. Heat is energy. We use a lot of oil. We use it in our ...

  10. Caltex petrol to cost more

    Posted Jan 31st 2009, 12:00am by Staff Reporter

    ... Cheung Chi-fai Caltex has increased the price of petrol by about 41 HK cents a litre, reversing the downward trend of the past seven months. It blamed a 28 per rise in prices in Singapore since mid-December. Caltex petrol will now cost HK$12.99 to HK$13.8 ...




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