PetroChina in talks to sell minority stakes in projects

PetroChina is expected to sell stakes in projects as part of plans to cut capital expenditure and improve its cash flow. Photo: Bloomberg

PetroChina recently adopted a strategy to "lighten" its asset investment burden by selectively opening up its oil and gas exploration and development projects, refineries, petrochemical plants and oil and gas pipelines to investment by domestic and overseas partners.

Friday, 31 May, 2013, 3:49am

Far Eastern looks west for growth

Far Eastern's Douglas Hsu sees growth in shale gas. Photo: Bloomberg

Taiwanese conglomerate Far Eastern Group is eyeing the development of petrochemical plants in the United States, fuelled by cheap energy as the US exploits its shale gas reserves, company's chairman and chief executive Douglas Tong Hsu says.

18 Apr 2013 - 5:33am

Toll of cancer misery rises in Shandong's petrochemical villages

A farmer tends his fields in Liuhang village, inside the Qilu Chemical Industrial Zone in Shandong province. Officials are still reluctant to admit the link between rising cancer rates and rampant pollution. Photo: Simon Song

Jinnan is one of nine villages under the jurisdiction of Jinling Hui ethnic township in Zibo, a prefecture-level city in the centre of Shandong. Jinling Hui town is entirely located within the 22-square-kilometre Qilu Chemical Industrial Zone, according to the township government.

4 Apr 2013 - 5:36am

Polluters given deadline to clean up emissions

Cement plants are among the polluting industries that will have to meet Beijing's emission limits to gain environmental approval. Photo: AP

From March 1, new coal-fired power plants and steel mills will have to meet "special limits" on emissions to gain approval from the Ministry of Environmental Protection, the ministry's China Environment News said in an online report. It did not give details.

21 Feb 2013 - 6:07am

New bid for Titan storage assets

The saga of the restructuring of debt-ridden fuel trading and logistics company Titan Petrochemicals Group and its crown-jewel fuel storage unit has taken a new twist, with creditor US private equity firm Warburg Pincus forming a joint venture with Titan Petrochemicals' rival SouthernPec to bid for the storage unit.

15 Aug 2012 - 11:23pm

HK$175m offer to take over suspended Titan

Guangdong Zhenrong Energy, a unit of state-owned commodities trader Zhuhai Zhenrong, has offered to pay HK$175 million to take over debt-troubled fuel trading and logistics firm Titan Petrochemicals Group.

The proposed price represents a discount of about 99 per cent to the price Hong Kong-based Titan Petrochemicals shares last traded before they were suspended.

15 Aug 2012 - 11:15pm

Great opportunity to gain global experience

This is a chance to gain global experience with one of the world's biggest energy players.

12 Apr 2008 - 12:00am

Sinopec cleared for 14.7b yuan plant

China Petroleum & Chemical Corp (Sinopec) has won central government approval to build a 14.7 billion yuan petrochemical project in Wuhan, Hebei province, the first project on such a large scale in central China.

3 Apr 2007 - 12:00am

Sinopec Shanghai Petrochemical

The group's principal activity is the processing of crude oil into petrochemical products for sale. Other activities include investment management; trading in, import and export of petrochemical products; import and export of equipment; and production of vinyl acetate, polypropylene compound and acrylic fibre products.

26 Jun 2006 - 12:00am

Sinopec Shanghai net soars 689pc

Sinopec Shanghai Petrochemical - China's largest maker of ethylene, a key plastics raw material - last year boosted net profit to 916.36 million yuan (about HK$860.28 million).

It was 689 per cent better than the 116.04 million yuan in 2001.

27 Mar 2003 - 12:00am

US$1b to kick start largest joint venture

Petrochemicals project partners China National Offshore Oil and Royal Dutch/Shell have awarded US$1 billion in contracts to three Japanese firms, kick-starting the mainland's largest sino-foreign joint venture.

A JGC-led alliance, another headed by Chiyoda and Yokogawa Electric signed contracts yesterday to build a US$4.3 billion petrochemicals complex in Huizhou, Guangdong.

26 Nov 2002 - 12:00am

Sinopec Shanghai plant project to reduce energy costs by 15pc

Sinopec Shanghai Petrochemical - one of China's largest integrated petrochemical makers - expects to slash about 15 per cent of its energy bill following the completion of an ethylene plant expansion last month, according to vice-president Rong Guangdao.

14 May 2002 - 12:00am

Yizheng keeps material buys in the family

Yizheng Chemical Fibre plans to increase its buying of raw materials from stablemate Yangzi Petrochemical after they were merged with three entities under newly formed China Eastern United Petrochemical (Group) last month.

12 Dec 1997 - 12:00am

Debuts contrast for Fairform and Yanhua

The stock exchange's two newest listings met contrasting receptions on their debuts yesterday.

Shares in Beijing Yanhua Petrochemical fell 6.82 per cent below their issue price amid a poor outlook for the sector in China.

The H share ended at $1.64, down 12 cents from the issue price of $1.76.

26 Jun 1997 - 12:00am

SHANGHAI Petrochemical

SHANGHAI Petrochemical makes synthetic fibres, resins, plastics and petroleum products.

This time last year, brokerage Credit Lyonnais placed a buy on the H share.

It said plant-expansion would help it boost profits by 27 per cent in 1996.

26 Jan 1997 - 12:00am