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Tag Archives: china

China oil market reform paves way for new crude benchmark

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* Chinese crude futures could be launched as early as October * Exchange seeks foreign players for yuan-denominated contract * Oil market reforms will squeeze China’s state oil giants SINGAPORE – China may launch a global crude oil futures contract as early as October to compete with the existing London Brent and the U.S. WTI benchmarks, three sources said, as ...

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Take advantage of the cheaper oil and gas

The fall of oil and natural gas prices is a boon to U.S. consumers and the economy. Americans should enjoy the break while it lasts. Lower prices at the gasoline pump and in utility bills puts more money in everyone’s pocket, which boosts spending and the overall commerce. Considering the slow pace of America’s economic recovery, the market needs all ...

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China, US seek ‘clean coal’ agreement as industry struggles

BILLINGS, Montana — U.S. and China officials took a major step Tuesday toward an agreement to advance “clean coal” technologies that purport to reduce the fuel’s contribution to climate change — and could offer a potential lifeline for an industry that’s seen its fortunes fade. The agreement between the U.S. Department of Energy and China’s National Energy Administration would allow ...

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Consortium picked to build oil shale plant ‘might not secure financing’

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AMMAN – Stakeholders in Jordan’s first shale oil-fuelled power plant are facing difficulties securing finance for the project and may seek an extension of the deadline for financial closure, according to a partner in the project. They have until October 1 to secure finance for the $2.2 billion, 470 megawatt (MW) project, while they are facing difficulties at this stage ...

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China halts operations of 3 oil, gas facilities close to residences

SHANGHAI – Three Chinese energy firms were told by local authorities in China to halt operations, after massive blasts at a warehouse in Tianjin last week raised public concerns that some facilities storing hazardous materials are too close to homes and schools. The Tianjin port warehouse, which had stored about 700 tonnes of the deadly chemical sodium cyanide, was 600 ...

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IEA sees oil glut persisting despite soaring demand

LONDON – World oil demand is expanding at its fastest pace in five years thanks to rebounding economic growth and low prices, but global oversupply will last through 2016, the West’s energy watchdog said on Wednesday. The International Energy Agency said in a monthly report that it was steeply raising its demand growth outlook for this year and 2016, and ...

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