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An ethylene plant under construction by PetroChina Jilin Petrochemical Company in Jilin City in northeast China’s Jilin Province on August 10, 2024. Photo: Xinhua.

PetroChina invests US$839 million to shift towards green energy

The acquisition of CNPC’s Electric Energy will further help leverage the synergy between its renewable energy and power segments, PetroChina’s president said.

PetroChina said on Monday that it would pay 5.979 billion yuan to buy 100 per cent of CNPC Electric Energy from its parent China National Petroleum Corporation (CNPC)

PetroChina joins world’s top producers in industry vow to reach net zero by 2050

China’s oil refiners are slowing down after decades of growth

Singapore to offer carbon tax rebates up to 76% for refiners, petro firms: sources

This hefty increase in carbon taxes has been a hot topic in Singapore’s refining sector, following the sale of Shell’s flagship Bukom and Jurong Island refinery and petrochemical facilities amid stiff competition.

Steam rises from the coal-fired power plant. Singapore is offering refiners and petrochemical companies rebates to help ease costs and remain competitive. Photo: AP/File

PetroChina: rapid EV uptake means oil use for transport to peak next year

Oil consumption in China’s transport sector will peak next year ‘at the latest’ as rapid adoption of electric vehicles (EVs) pulls the plug on petrol consumption, according to the nation’s largest oil and gas producer.

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Huawei founder talks digital transformation, tech innovation with PetroChina head

The meeting underscores Huawei’s long-standing ties with PetroChina in projects that have helped modernise its operations in the energy industry.

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PetroChina claims progress on emissions, low-carbon energy goals

The nation’s largest oil and gas producer says it is on track to peak carbon emissions next year and double the contribution of low-carbon energy to its output capacity over two years, top leaders say.

A sign at a PetroChina station is seen in Hong Kong on March 21, 2024. Photo: Bloomberg

China’s demand for LNG imports may double over next decade: Cheniere Energy

‘Everything is in place and heading towards a 130-to-140 million-tonnes market’ after 2023 import volume rose 12.6 per cent, says senior company official.

Greenpeace accuses Chinese oil and gas firms of ‘greenwashing’ LNG purchases

Big oil and gas companies in China and elsewhere are using low-quality carbon offsets to ‘greenwash’ their imports of natural gas while failing to make strong emissions cutting commitments, Greenpeace says.

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Chinese state oil companies falling short on climate pledges: Carbon Tracker

Sinopec, PetroChina and CNOOC have not fulfilled the minimum requirements to align with the Paris Agreement and continue ‘to put investors at risk’, according to the think tank.

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Signage sits atop a China Petroleum & Chemical (Sinopec) gas station in Hong Kong on March 23, 2019. Photo: Bloomberg

China starts drilling another 10,000-metre well in search for natural gas

Exploration of the challenging Shendi Chuanke-1 Well in the Sichuan Basin is part of Deep Earth project.

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Drilling began at the site in Jiange county, Sichuan province, on Thursday. Photo: Xinhua

Chinese oil giants’ clash in Middle East oil market puzzles traders

The biggest opposing positions in Middle East crude trading in years by the trading units of PetroChina and Sinopec have transformed global cargo flows and puzzled oil traders globally.

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Former Bank of China chief Liu Liange facing corruption investigation

The 62-year-old was abruptly removed from his post as chairman and party chief at the leading state-owned lender in February.

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PetroChina reports progress on green-energy development

China’s largest oil and gas producer says it is on track for non-fossil energy to account for 7 per cent of its total capacity in 2025. Greenhouse-gas emissions from its own operations rose slightly in 2022.

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The PetroChina logo at a gas station in Hong Kong on March 25, 2023. Photo: Bloomberg

Ecuador reaches deal to restructure debt with Chinese banks

President Guillermo Lasso previously announced he sought to restructure debt and improve conditions of long-term oil sales contracts with Beijing.

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Ecuadorean President Guillermo Lasso has turned to multilateral organisations for financing to reactivate the pandemic-hit economy, and renegotiated a US$6.5 billion credit agreement with the IMF, which ends this year. Photo: Shutterstock Images

PetroChina picks up renewable energy development pace, unveils record profit

PetroChina has adjusted its renewable energy development target higher after bagging approvals to install 5.36 gigawatts of wind and solar farms and 11.2 million square metres of geothermal projects.

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Alibaba, JD.com fuel best stock rally since April on fresh China stimulus

Hong Kong stocks surged by the most in four months after China unveiled new stimulus to shore up the economy. Fresh speculation on US delisting matters emerged, lifting tech firms.

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More Chinese state-owned firms will delist from US, analysts say

The voluntary delisting of five SOEs including Sinopec and PetroChina from the New York Stock Exchange could pave the way for further exits, according to analysts.

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The voluntary delisting of five SOEs from the New York Stock Exchange could pave the way for further exits, according to analysts. Photo: AP

Chinese state-owned firms to delist from the US amid audit dispute

The companies cited low trading volumes, high costs and regulatory issues for their decision to voluntarily delist from the NYSE. Chinese regulator says it is normal for companies to list or delist from any market.

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PetroChina’s first-half profit rises over 50 per cent on higher oil prices

China’s biggest oil company estimates net profit rose between 26.5 billion yuan (US$3.9 billion) and 32 billion yuan in the January to June period.

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Hong Kong stocks slip as mass Covid-19 testing stirs China lockdown fears

New infections prompt mass screening in nine of Shanghai’s 16 districts, stoking lockdown fears. Recession concerns also undermine crude oil prices, hitting producers like CNOOC.

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Residents behind barriers surrounding a residential neighborhood placed under lockdown due to Covid-19 in Shanghai on July 6, 2022. Shanghai launched mass testing for Covid in nine districts after detecting cases the past two days. Photo: Bloomberg

Chinese oil giant aims for half its output to be renewable by 2050

PetroChina, which reported its highest profit for seven years, will tap wind, solar and geothermal resources as it steps up efforts to help the country achieve net-zero emissions by 2060.

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PetroChina says it has has commissioned 39 low-carbon and carbon reduction projects. Photo: Reuters

Ukraine crisis: Chinese oil, mining groups are early stock market winners

Notwithstanding the unfortunate casualties, the Russia-Ukraine war is threatening to disrupt supply chains. Chinese oil and mining groups are some of the early stock market winners.

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Unit of China oil giant ‘cooperating’ with probe into ‘irregular trading’

Authorities say the subsidiary of PetroChina was involved in irregular reselling of crude totalling 179.5 million tonnes to 115 local refineries, ‘severely’ disrupting markets.

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‘Based on our own needs’: China to join global oil reserve release

China’s second release from its state oil reserves could again amount to around 7.38 million barrels following a 50 million barrel commitment from US President Joe Biden.

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US President Joe Biden on Tuesday announced plans to release 50 million barrels of oil from its Strategic Petroleum Reserve in the coming months. Photo: AFP

Surging diesel prices drive some Chinese truckers to the black market

The rising price of diesel has come at a critical time for China’s logistics industry, ahead of the peak Singles’ Day shopping and delivery season.

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Soaring diesel prices are putting pressure on China’s independent truck drivers. Photo: EPA-EFE

PetroChina maps out low-carbon projects pipeline, spending plan

PetroChina says investments on low-carbon energy projects are likely to reach one-third of overall spending by 2035, as it helps the country fight climate change.

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Hang Seng Index drops on tech slump with Baidu hitting new post-IPO low

Hong Kong stocks tumbled as technology stocks suffered from lingering regulatory angst with Baidu reaching a new post-IPO low. Markets were also unnerved by rising Covid-19 cases in the region.

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PetroChina
PetroChina Company Ltd is the listed arm of state-owned China National Petroleum Corporation (CNPC). It is China's biggest oil producer, and is listed in Hong Kong, New York, and Shanghai.
last updated:
21 August, 2024
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