• Thu
  • Aug 28, 2014
  • Updated: 12:43am


China's oil refining party at an end as capacity is cut

Mainland refiners, like many before them, now realise that parties don't last forever and eventually everyone has to sober up. The decision by state-controlled giant PetroChina to put off two new refineries and delay expansion of another is the latest, most dramatic signal that the mainland's refined fuels capacity has expanded too fast.

Tuesday, 4 February, 2014, 5:44am

Niger to repay US$1 billion China Exim Bank loan from sales of oil produced by Chinese firm

Niger has accepted a controversial US$1 billion loan from the Export-Import Bank of China (China Exim Bank) to finance development projects, the West African country’s planning minister said on Tuesday.

30 Oct 2013 - 3:39pm

Executive of supplier to scandal-plagued CNPC 'dies in fall'

A senior executive of a major supplier to China National Petroleum Corporation (CNPC) has died, with one mainland media report saying she fell from a building in Chengdu.

26 Sep 2013 - 4:00pm 1 comment

Sichuan-based CNPC-supplier executives disappear amid widening graft probe

Sichuan Star Cable, a Leshan, Sichuan province-based supplier of the oil and gas giant China National Petroleum Corporation, has said three of its executives have disappeared as party investigators are expanding their graft probes in the province.  

3 Sep 2013 - 4:24pm

Former oil company chief and protégé of ex-security tsar Zhou Yongkang is latest graft probe target

Jiang Jiemin, director of the State-owned Assets Supervision and Administration Commission (Sasac) and former chairman of the country's biggest oil company, is suspected of "serious discipline violations", Xinhua reported yesterday, using the party's euphemism for graft.

3 Sep 2013 - 1:03pm 12 comments

Oil giant urges calm during corruption probe into four senior executives

The state-owned oil and gas giant once run by former Communist Party leader Zhou Yongkang has pledged to maintain stability despite a government corruption probe into four of its senior executives.

The piece was published on the day the South China Morning Post exclusively confirmed that Zhou Yongkang was himself under investigation over alleged graft. 

30 Aug 2013 - 2:49pm

Chinese oil giant CNPC seen buying more overseas energy assets

China National Petroleum Corp has already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil and Russia's Rosneft may be next on the list.

3 Sep 2013 - 1:02pm

CNPC looks over Petrobras assets worth US$2b

The assets in Colombia and Peru could be worth about US$2 billion and CNPC may face competition from other South American producers, two of the sources said.

19 Jul 2013 - 5:08am

CNPC to pay over US$5b in Kashagan oil stake

Chinese state oil firm CNPC will buy a stake in Kazakhstan’s giant Kashagan oil project, through back-to-back deals with Kazmunaigaz through which ConocoPhillips will exit, the Kazakh state oil firm said.

2 Jul 2013 - 10:42am

Agency cuts ratings on power, resources firms

Fitch Ratings has downgraded its local-currency credit rating on two state-backed power generators and three resources firms, a day after the rating agency's downgrade of a Chinese sovereign rating by one notch.

11 Apr 2013 - 5:07am