China sets oil, gas resource tax rate at 5 percent of sales
China will levy a resource tax on crude oil and natural gas products at 5 percent of sales nationwide starting from Tuesday, the Ministry of Finance said Monday. The ministry also released specific...
View ArticleFuel pricing aims to trim travel costs
A new fuel pricing mechanism for Chinese airlines that became effective yesterday is aimed at further cutting passengers’ travel costs, two government bodies said yesterday. Airlines must cut fuel...
View ArticleSinopec in talks for Galp assets
China Petrochemical Corp (Sinopec Group), which paid $7.1 billion for Repsol YPF SA’s Brazilian unit, is in talks to buy a stake in Galp Energia SGPS SA’s division in Latin America’s second-biggest oil...
View ArticlePetroChina joins world’s top 5 energy ranks
Chinese oil giant PetroChina came in the fourth place in a ranking of world’s top 250 energy companies unveiled on Wednesday evening, making it the first Asian firm to join the top five ranks. The 2011...
View ArticleChinese oil giants beef up diesel supply
China’s two oil giants have announced measures to increase diesel supply to ease shortages in many parts of the country at the demand of government authorities, local media reported Thursday. The...
View ArticleCNOOC still in talks for BP’s PAE
China’s biggest offshore oil producer CNOOC Ltd said talks are still ongoing for a $7 billion bid to buy BP Plc’s stake in Argentina-based oil and gas group Pan American Energy LLC (PAE), despite a...
View ArticleAddax buys Shell’s stake in Pecten
Royal Dutch Shell PLC has sold its 80-percent stake in Pecten Cameroon Co to the Chinese-owned Addax Petroleum Corp, the Sinopec International Petroleum Exploration and Production Corp(SIPC) said...
View ArticleCOFCO to expand overseas M&A
China National Cereals, Oil and Foodstuffs Corporation (COFCO), the country’s largest trader of grains and edible oils, said it will add investment worth more than $10 billion to fund overseas mergers...
View ArticleGovt urged to open up crude oil import market
Some of the country’s private-held oil companies are clamoring for the relaxation of the tight government control of crude oil imports to alleviate the widespread chronic diesel shortfalls during...
View ArticleCNOOC says terminates Pan American deal with BP
China’s biggest offshore oil producer CNOOC Ltd said on Sunday its 50 percent-owned unit Bridas Energy Holdings has determined to terminate a deal to buy BP Plc’s 60 percent stake in Argentina-based...
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