Oil was swept along by volatility in Chinese markets, rallying from a 12-year low as the country sought to quell losses in its equities and stabilize its currency.
Futures rose as much as 3.2 percent in New York after China suspended a controversial equity circuit breaker system and its central bank set the yuan’s reference rate little changed after an eight-day stretch of weaker fixings. Crude slid Thursday to the lowest since December 2003 as market turbulence reverberated across the globe amid concern over economic growth in the world’s biggest energy consumer.
GE Power Convention is stepping up its presence in the renewables sector in China.
The company recently signed a deal which will see it equipping Sewind’s offshore wind turbines with its 4MW fully fed LV3 wind converters.
Shanghai’s stock index plunged nearly 7% on Monday, sparking a halt in trading of Chinese shares, after weak manufacturing data and Middle East tensions weighed on Asian markets.
China said it more than doubled the size of its strategic crude oil reserves between November 2014 and the middle of this year, building inventories at a rate exceeding analysts' estimates of the country's stockbuilding.
The world's largest energy consumer increased its reserves to 26.1 million tonnes, or about 190.5 million barrels, by mid-2015, the National Bureau of Statistics said on Friday. The increase occurred as the country took advantage of steep declines in oil prices to stockpile crude.
Global carbon dioxide emissions may be dropping slightly this year, spurred by a dramatic plunge in Chinese pollution, research suggests.
The unexpected dip could either be a temporary blip or true hope that the world is about to turn the corner on carbon pollution as climate talks continue in Paris, said the authors of a study published in the journal Nature Climate Change.
“That shouldn’t tell us we don’t need to do anything, but that shows there is action,” Janos Pasztor, the United Nations assistant secretary general for climate change, told The Associated Press at the Paris climate talks. “Things are going in the right direction. All we need is a strong agreement.”
China has sentenced eight ex-Sinopec employees and six government officials with up to five years in jail for their involvement in an oil pipeline explosion in the port city of Qingdao that killed 63 people in 2013.
Back in 2009, China was a reluctant partner during major climate negotiations in Copenhagen that eventually collapsed amid recriminations between rich and poor nations. This time around the world’s biggest polluter is regarded as a driving force behind what could be a comprehensive deal at a world climate summit in Paris.
China's Sinopec is offering its subsidiary refineries big incentives to export their diesel fuel, sources said, in a rare move that reflects the top Asian refiner's deepening concerns about a growing domestic glut.
China will cut wholesale prices of natural gas from Friday, the country's top economic planner said in the year's second price reduction, aimed at boosting flagging growth in demand for the cleaner-burning fuel.
ConocoPhillips has been ordered by a Chinese court to pay compensation to nearly two dozen aquaculture farmers who said their livelihoods had been hurt by oil spills off the country’s north eastern coast four years ago.
The company was told to pay $266,000 to 21 farmers who had not previously participated in a previous settlement in 2012.
A billionaire oil tycoon has been rescued after he was allegedly held hostage for more than a month in a £6million ransom deal.
Wong Yuk-kwan, the chairman of Pearl Oriental Oil Limited, had been found in an avandoned cottage in rural western Taiwan.
It’s believed the oil boss, worth an estimated £1.7billion, was abducted in September.
China Petroleum & Chemical Corp.’s third-quarter profit plummeted 92 percent as lower oil prices and production dwarfed an increase in refining revenue.
Net income at Asia’s biggest refiner, known as Sinopec, was 1.64 billion yuan ($258 million), or 0.013 yuan a share, compared with 19.3 billion yuan, or 0.165 yuan, a year earlier, the Beijing-based company said in a statement to the Shanghai Stock Exchange on Thursday. That compares with the 4.27 billion yuan average of three analyst estimates compiled by Bloomberg.
Higher refining revenue was swamped by a drop in oil prices. Brent, the benchmark for more than half of the world’s crude, averaged about $51 a barrel in the third quarter, compared with more than $103 a year ago.
The Government has been relentlessly strangling the UK’s green energy sector, arguing that this is all part of their campaign to reduce energy bills for consumers. Now, not only are we risking inflating our energy bills in the future, but we are also at risk of handing control of our future energy security to China.
The National Security Council has not “fully considered” the impact of Chinese involvement in the building of new nuclear power stations in the UK, a former shadow defence secretary has said.
Apple is cleaning up its manufacturing operations in China to reduce the air pollution caused by the factories that have assembled hundreds of millions of iPhones and iPads during the past eight years.
The world’s most valuable company is working with its Chinese suppliers to eventually produce 2.2 gigawatts of solar power and other renewable energy.
The commitment represents Apple’s latest attempt to prevent the popularity of its devices and digital services from increasing the carbon emissions that are widely believed to changing the Earth’s climate.
Apple estimates 20 million tonnes of greenhouse gas pollution will be avoided as more of its suppliers rely on renewable energy between now and 2020. That is like having four million fewer cars on the road for a year.
An agreement between EDF and its Chinese partner China General Nuclear Corporation (CGN) will create a infrastructure "fit for the 21st century" according to the UK Energy secretary.
Conservative politician Amber Rudd said the government was tackling a legacy of under-investment in the UK.
The deal was signed amid a landmark visit from Chinese President Xi Jinping where he has met with both politicians and dignitaries.
