Fuels | South China Morning Post
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Fuels

Headwinds, high rent and new ground

Illustration: Henry Wong

Aviation

Soaring fuel prices and sluggish demand in the United States and the euro zone sapped the performance of global airlines in 2012, which face more headwinds in the new year.

Monday, 31 December, 2012, 4:58am

Sinopec posts third-quarter profit decline

Sinopec raised fuel prices in the past two months. Photo: Bloomberg

China Petroleum & Chemical Corp (Sinopec) saw its net profit slide 9.4 per cent in the third quarter but benefited from government-mandated fuel price rises to beat analysts' estimates.

29 Oct 2012 - 5:08am

Lower coal prices to fuel higher profits for China Resources Power

(From left) China Resources Power chief financial officer Wang Xiaobin, chairwoman Zhou Junqing and president Wang Yujun. Photo: May Tse

China Resources Power Holdings, the most profitable Hong Kong-listed mainland power producer, saw its share price rise 4.9 per cent after it posted a 20.8 per cent rise in first-half profit and tipped better second-half profitability on lower coal costs.

21 Aug 2012 - 3:56am

China Power raises funds for future

China Power International Development raised a total of US$300 million through a share placement and a bond issue to finance new projects and repay loans.

The company said it had completed placing about 443 million shares at HK$2.10 apiece, representing a discount of 2.86 per cent to China Power's closing share price of HK$2.16 yesterday.

18 Aug 2012 - 3:10am

Prices still under pressure,Mongolian coal miner says

Coal exporter Mongolian Mining expects prices to remain under pressure for the rest of the year amid weak demand.

But it says its competitiveness means output is on track to reach its target of 10 to 11 million tonnes this year, up from 7.1 million last year.

15 Aug 2012 - 11:15pm

India's power grid needs investment

Electricity is the driver of any nation's industrial growth, but Indian politicians have not recognised its importance. Vested interests and an unwillingness to rectify supply threats have led to a crumbling of the power grid. It is a reality evident in the recent blackouts that left 600 million people, almost half the population, in the dark.

15 Aug 2012 - 11:03pm

Harm's way?

When a city gets packed into a small area, as with Hong Kong, there are bound to be oddities with planning and design. The living room that overlooks a neighbour's bathroom, the hotel with a bird's eye view of a cemetery, and buildings in mixed zones that offer spaces that are apartments one day, a restaurant the next and a sex shop after that are among the inevitabilities.

12 Jun 2012 - 12:00am

Yitai Coal to buy up parent's mines

Inner Mongolia Yitai Coal, which is preparing for an initial public offering of up to US$1.5 billion, plans to acquire the bulk of the remaining mining assets of its parent, Yitai Group, after the listing.

The deal is expected to be worth 8.4 billion yuan (HK$10.25 billion).

29 May 2012 - 12:00am

Government's gas blunder no laughing matter

The government says a deal between CLP and mainland natural gas suppliers has yet to be finalised because it is seeking 'important information' from the power firm.

SCMP, May 16

17 May 2012 - 12:00am

CLP's price scare is just so much gas

'The era of cheap gas is over, [CLP chief executive Andrew] Brandler said. SCMP, May 9

I have time for China Light (the old name still rings better than CLP). It runs an excellent power service, it has kept its tariffs well below those of Hongkong Electric and I think its people are genuine in their commitment to the community.

10 May 2012 - 12:00am

Glaucus attacks Fushan 'pump and dump scheme'

Shougang Fushan Resources Group has come under renewed attack from US short-seller Glaucus Research which accused the coking coal miner of buying mines from related parties at above-market prices, and possibly inflating its profit through connected transactions.

26 Apr 2012 - 12:00am

Natural gas supply expected to surge

The contribution of unconventional natural gas to the mainland's supply is expected to surge to 30 per cent of total supply by the end of this decade from 1.5 per cent currently, according to an industry expert.

23 Apr 2012 - 12:00am

China playing catch-up on electric vehicles

China will move faster to develop its clean-energy vehicle industry to regain ground lost to the United States and tackle the pressing issue of rising fuel consumption at home, the State Council says.

19 Apr 2012 - 12:00am

Mainland power firms in red again

The mainland's five state-owned power generation firms sank back into losses in January on the back of weaker output and rising interest and coal costs, but an analyst said the poor showing was distorted by the Lunar New Year effect.

13 Apr 2012 - 12:00am

Kunlun seeks cash for LNG boost

Kunlun Energy, the gas distribution arm of China's largest oil and gas producer, PetroChina, saw its share price fall 3.1 per cent yesterday after the concern announced it would raise HK$10.48 billion to fund its liquefied natural gas (LNG) projects.

4 Apr 2012 - 12:00am

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