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PetroChina secures an 8 percent share in an onshore oil concession in Abu Dhabi

According to Bloomberg on February 19th, PetroChina secured an 8 percent share in an onshore oil concession in Abu Dhabi in a deal worth $1.8 billion, as the Middle East countries hoped this

February 21, 2017

Oil prices close higher mainly due to the output reduction of OPEC

WTI oil price was not available on February 20th (Monday) as US markets were closed for the President's Day holiday. Brent crude futures rose amid the output reduction of OPEC but the rise w

February 21, 2017

Yan’an Refinery will enter maintenance season in March

It was learned that Yan’an Refinery will be in maintenance season successively from March 7th. 3 million mt/yr CDU unit and 2.6 million mt/yr CDU unit will stop operation for maintenance o

February 21, 2017

Huabei Petrochemical 10 mln mt/yr refining project goes well

At present, Sinopec Huabei Petrochemical’s 10 million mt/yr refining project goes well for upgrade and modification, with cumulative investment CNY484.31 million about a half of the total

February 21, 2017

China Overseas Holding Group's acquisition of Shandong Rizhao Shtar Technology

In January, 2017, China Overseas Holding Group Co., Ltd. and Shandong Rizhao Shtar Technology Petrochemical Co., Ltd. completed the cooperation on equity.

February 21, 2017

Teapots feedstock structure completely changes amid imported crude oil

In recent years, more and more teapots were granted to use imported crude oil. Since 2015 Dongming Petrochemical for the first time obtained the right to use imported crude oil so far, a to

February 21, 2017

Domestic diesel price rises amid the recovery of demand

Recently, major OPEC oil producers have continued to release news on reducing output, especially OPEC sources told Reuters that in order to rebalance the market, the agreement on output redu

February 21, 2017

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