SINGAPORE/BEIJING China's crude oil imports rose to the third-highest volume on record on a daily basis on increasing purchases by new private refineries, while natural gas imports eased as demand dropped amid warmer temperatures, customs data showed on Friday.
SINGAPORE/DUBAI/BEIJING Saudi Aramco plans to sign preliminary deals to invest in two oil refining and petrochemical complexes in China during the Saudi Arabian crown prince's visit this week, sources familiar with the plans said, as Beijing seeks expanded ties with Riyadh.
SINGAPORE/BEIJING China's state energy giants are set to raise spending on domestic drilling this year to the highest levels since 2016, focusing on adding natural gas reserves in a concerted drive to boost local supplies.
BEIJING/SINGAPORE Sinopec Corp said its trading unit Unipec lost 4.65 billion yuan (525.64 million pounds) on crude oil hedging in the fourth quarter, one of China's largest derivatives trading losses in nearly a decade.
* Wrong calls on the market led to losses in derivatives
* Planned 2019 spending of up to $12 bln at highest since
BEIJING/SINGAPORE China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.
BEIJING/SINGAPORE, Jan 18 China National
Offshore Oil Company, or CNOOC, said on Friday it
aims to double its exploration activities and proven oil and gas
reserves in China over the next seven years, a target that will
see the state oil firm expedite capital spending.
SINGAPORE/BEIJING China issued its first batch of crude oil import quotas for 2019 on Wednesday at a lower volume than for the same batch a year ago though expectations are for the volumes to climb later this year.
BEIJING/SINGAPORE China's November refinery throughput rose from a year earlier, heading for an annual record, official data indicated on Friday, although the runs eased from highs touched in the previous two months as product inventories swelled and sales slowed.