Interfax China - Telecom Media & Technology, Metals & Mining, Energy, Pharmaceuticals, Investment, Agriculture

Shanghai Lingang gas-fired power plant set to enter full operations

Wed, 08 Feb 2012 10:34:10 GMT

Shanghai. February 8. INTERFAX-CHINA - Shenergy Co. Ltd. will put the Shanghai Lingang Gas Power Plant into full commercial operations in March once the facility's fourth and final 400-megawatt (MW) combined cycle gas turbine completes testing, Shenergy announced on Wednesday.

China zinc industry faces gloomy H1 outlook

Wed, 08 Feb 2012 09:58:01 GMT

Shanghai. February 8. INTERFAX-CHINA - Analysts expect a poor performance from China's zinc smelters in 2011 and a difficult first half (H1) for the industry after two major players released disappointing preliminary earnings figures for 2011 last week.

Sinopec's Southwest Oil & Gas targets 3 bcm gas output

Wed, 08 Feb 2012 09:44:53 GMT

Beijing. February 8. INTERFAX-CHINA - Sinopec Southwest Oil and Gas Co. Ltd. plans to increase natural gas production by 7.14 percent from a year earlier to three billion cubic meters (bcm) in 2012, Guo Wang, a Southwest Oil & Gas representative, told Interfax on Wednesday.

Chinalco unit inks Aussie copper mine deal with Xstrata

Wed, 08 Feb 2012 09:30:52 GMT

Shanghai. February 8. INTERFAX-CHINA - Chinalco Yunnan Copper Resources Ltd. (Yunnan Copper Resources), the overseas investment unit of state-owned Aluminum Corp. of China (Chinalco), signed an agreement Tuesday to take a controlling interest in Xstrata Plc's Mount Frosty copper project in far northwest Queensland.

Fujian looks to wind power to satisfy energy needs

Wed, 08 Feb 2012 09:25:09 GMT

Shanghai. February 8. INTERFAX-CHINA - Southeast China's Fujian Province is looking to exploit its wind power resources to compensate for its lack of fossil fuels.

Xinjiang looks to extend gas coverage to 80 pct of households

Wed, 08 Feb 2012 09:21:08 GMT

Shanghai. February 8. INTERFAX-CHINA - Western China's Xinjiang Uyghur Autonomous Region expects 80 percent of households to have access to natural gas by 2013, Xue Lianjun, vice director of the Xinjiang Oil and Gas Management Office, told Interfax on Wednesday.

NDRC hikes gasoline and diesel prices

Wed, 08 Feb 2012 08:56:15 GMT

Shanghai. February 8. INTERFAX-CHINA - The National Development and Reform Commission (NDRC) raised the price of domestic oil products by RMB 300 ($47.54) per ton, the state economic planner announced Feb.7.

Sinopec's Sichuan-Shanghai Pipeline transmits 10 bcm

Tue, 07 Feb 2012 11:30:45 GMT

Shanghai. February 7. INTERFAX-CHINA - China Petrochemical Corp.'s (Sinopec Group) Sichuan-Shanghai Gas Pipeline (SSGP) has transmitted more than 10 billion cubic meters (bcm) of gas since it was put into operation in 2009, Sinopec Group announced on Tuesday.

Kela-2 Gasfield supplies 62 bcm of natural gas to WEP network

Tue, 07 Feb 2012 11:08:23 GMT

Shanghai. February 7. INTERFAX-CHINA - China National Petroleum Corp.'s (CNPC) Kela-2 Gasfield in Baicheng County, Xinjiang Uyghur Autonomous Region has supplied 62.2 billion cubic meters (bcm) of natural gas to the West-East Natural Gas Pipeline (WEP) network as of Jan. 31, a Baicheng County official told Interfax today.

China's Sinochem to acquire Total Colombian unit

Tue, 07 Feb 2012 10:53:58 GMT

Beijing. February 7. INTERFAX-CHINA - Sinochem Group, China's fourth largest oil major, has agreed to purchase Total SA's wholly-owned Colombian subsidiary Tepma BV, a Sinochem spokesperson confirmed to Interfax on Tuesday. The deal marks Sinochem's second upstream oil and gas acquisition in Latin America this year.

Shandong Province issues lending guidelines for steel industry

Tue, 07 Feb 2012 10:33:38 GMT

Shanghai. February 7. INTERFAX-CHINA - The People's Bank of China (PBOC) and the China Banking Regulatory Commission (CBRC) issued joint guidelines on Feb. 3 aimed at improving credit access for steelmakers and promoting industry restructuring in north China's Shandong Province.

CNPC sets ambitious gas output targets for 2012

Tue, 07 Feb 2012 09:43:14 GMT

Beijing. February 7. INTERFAX-CHINA - China National Petroleum Corp. (CNPC), the country's largest oil and gas producer, intends to output between 79.3 billion cubic meters (bcm) and 82.1 bcm of natural gas from domestic sources in 2012, CNPC said in a newsletter on Tuesday.

Tibet to invest $456 mln extending power grid in 2012

Tue, 07 Feb 2012 09:13:55 GMT

Shanghai. February 7. INTERFAX-CHINA - West China's Tibet Autonomous Region plans to spend RMB 2.88 billion ($456 million) to extend the regional power grid, Tibet Electricity Power Corp. (TEPC) said Feb. 7.

Baosteel handed control of leading Guangdong steelmaker

Tue, 07 Feb 2012 08:58:29 GMT

Shanghai. February 7. INTERFAX-CHINA - Baoshan Iron & Steel Group (Baosteel) has entered Guangdong after being given a controlling interest in the province's largest steelmaker, Shaogang Songshan Co. Ltd. (Shaogang Songshan), as part of plans to consolidate the local steel industry.

Inner Mongolia to establish a coal trading exchange by year end

Tue, 07 Feb 2012 07:37:41 GMT

Shanghai. February 7. INTERFAX-CHINA - The Inner Mongolia Autonomous Region plans to establish a coal trading exchange within the year, sources with the regional government told Interfax Feb. 7.

Gas supply shortage halts production at Sichuan fertilizer producer

Mon, 06 Feb 2012 12:57:25 GMT

Shanghai. February 6. INTERFAX-CHINA - Sichuan Chemical Co. Ltd., a fertilizer producer in southwest China's Sichuan Province, halted production last year due to insufficient natural gas supplies, a source with the company told Interfax on Monday.

CNPC unit to invest RMB 3 bln in Handan gas project

Mon, 06 Feb 2012 10:32:52 GMT

Shanghai. February 6. INTERFAX-CHINA - Huagang City Gas Group Co. Ltd. (Huagang Gas), a unit of China National Petroleum Corp. (CNPC), has signed a strategic cooperation framework agreement for a gas project in Handan City, Hebei Province, local media reported Feb. 6.

China copper smelters face uncertain H1 outlook - analyst

Mon, 06 Feb 2012 10:03:44 GMT

Shanghai. February 6. INTERFAX-CHINA - Despite indications of a strong performance in 2011 and the recent recovery in copper cathode prices, China's copper smelters continue to face an uncertain outlook in the first half (H1) of 2012 as real consumption remains weak, analysts told Interfax Monday.

CEC warns of continued power shortages through 2012

Mon, 06 Feb 2012 09:55:33 GMT

Shanghai. February 6. INTERFAX-CHINA - The China Electricity Council (CEC), a semi-governmental power industry agency, warned in a research report published Feb. 4 that China may face another year of power shortages due to continued drought and constrained thermal coal supplies.

CNPC and Sinopec to expand CTG transmission from Xinjiang

Mon, 06 Feb 2012 09:46:40 GMT

Beijing. February 6. INTERFAX-CHINA - China's two largest natural gas producers will raise their combined coal-to-gas (CTG) transmission capacity in the Xinjiang Uyghur Autonomous Region to 161 billion cubic meters per year (bcm/y) by 2015, cementing the region's importance in the national gas supply chain.

SGCC acquires $500 mln stake in Portugual's REN

WV — Mon, 06 Feb 2012 09:39:38 GMT

Shanghai. February 6. INTERFAX-CHINA - The State Grid Corp. of China (SGCC), the country's largest power grid operator, has acquired a 25 percent stake in Portuguese grid operator Redes Energéticas Nacionais (REN) for 387 million euros ($505.62 million), SGCC announced Feb. 5.

China shipbuilders in stormy waters as BDI hits 25-year low

Mon, 06 Feb 2012 09:25:56 GMT

Shanghai. February 6. INTERFAX-CHINA - The Baltic Dry Index (BDI) touched a 25-year low of 647 points on Feb. 3, while weak shipping demand and a seasonal boost in capacity last month added to the challenges facing China's shipbuilders.

Huadian accelerates gas power expansion

Fri, 03 Feb 2012 11:55:47 GMT

Shanghai. February 3. INTERFAX-CHINA - China Huadian Corp.'s rapid expansion in the distributed power sector has accelerated after the company won government approval last month to construct a gas-fired distributed power project in east China's Jiangsu Province.

SHFE fuel oil futures rise on despite crude oil retreat

Fri, 03 Feb 2012 11:34:08 GMT

Shanghai. February 3. INTERFAX-CHINA - Shanghai Futures Exchange (SHFE) fuel oil prices rose in thin trade on Feb. 3 despite the retreat of international crude oil prices overnight. The most traded 2012 March contract closed the session 0.45 percent higher at RMB 5,312 ($841.84) per ton.

Retail fuel prices stable while LPG prices drop in late week

Fri, 03 Feb 2012 11:21:35 GMT

Shanghai. February 3. INTERFAX-CHINA - Retail fuel prices remained stable in China this week in the absence of price adjustment policies from the National Development and Reform Commission (NDRC), China's state economic planner.