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Petroleum / Mining in Eastern Asia

  • China’s Aluminium Production Drops for Second Consecutive Month

    CHINA, 2017/09/16 In a sign that China’s aluminium juggernaut may finally be losing steam, numbers from the Middle Kingdom indicate that the country’s non-ferrous metals output reached a one-year nadir last month. Production of ten non-ferrous metals, namely copper, aluminum, lead, zinc, nickel, tin, antimony, mercury, magnesium, and titanium, dropped by 2.2 % last month to a total output of 4.42 million metric tons. Though China’s aluminium sector has churned out 22.17 million metric tons over the year’s initial eight months, good for a 6.1-% rise year-on-year, primary aluminium production fell by 3.7 % year-on-year in August. That was the second consecutive month of declines, dropping output to the lowest level it’s been since April 2016. The official data, which was released yesterday, represents the country’s lowest in general output in twelve months and is the initial year-on-year decline since December 2015.
  • China to Loan Guinea US$20 Billion for Access to Bauxite Reserves

    CHINA, 2017/09/13 The Republic of Guinea will be the recipient of a US$20 billion loan from the People’s Republic of China in exchange for concessions on its significant bauxite ore reserves. According to reporting yesterday by Reuters, the loan will be disbursed over twenty years. The loan will be guaranteed by in-country projects 125 miles northeast of Conakry at Boffa inclunding China Power Investment Corp’s (CPI) planned alumina refinery, a bauxite mine operated by the Aluminium Corporation of China Limited (Chalco), and a bauxite-mining project operated by China Henan International Cooperation Group.
  • China to loan Guinea $20 billion to secure aluminum ore

    CHINA, 2017/09/13 China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminum which the West African country has in abundance, the mines minister said. The projects guaranteed by the loan included China Power Investment Corp’s (CPI) planned alumina refinery and Aluminium Corp of China’s (601600.SS) (Chalco) bauxite mine and an extra bauxite project by China Henan International Cooperation Group, all of them in the northwestern town of Boffa.
  • Russia's Rosneft inks oil production & supply deal with China

    CHINA, 2017/09/07 Russian oil major Rosneft has announced a strategic cooperation agreement and long-term oil supply arrangement with CEFC China Energy Company. The transaction was sealed on the sidelines of the BRICS Summit in Xiamen, China. According to Rosneft, the agreement would see the development of exploration and production projects in Western and Eastern Siberia. The two companies as well agreed to cooperate in refining, petrochemicals and crude trading.
  • Russian firm seals energy exploration deal to drill South African shelf

    CHINA, 2017/09/07 Russia’s geological research company Rosgeo and South African national oil company PetroSA have signed an offshore drilling agreement on the sidelines of the of the BRICS Summit in Xiamen, China. The transaction is worth an estimated $400 million over the next 10 years. Rosgeo aims to start exploring two blocks off the country's south coast. The agreement covers a huge all of geological exploration work, inclunding drilling exploratory wells.
  • Turkmenistan should cultivate diverse gas markets

    CHINA, 2017/08/26 Turkmenistan-China gas relationship may be viewed as one country's over-dependence on an extra, Sean Roberts, an expert on Central Asia and Associate Professor of the Practice of International Affairs, told Trend commenting on the construction of Tajik section of the Turkmenistan-Uzbekistan-Tajikistan-Kyrgyzstan-China gas pipeline launched last month. “One one hand, it is easy to understand why Central Asia states are increasingly attracted to trade deals and investment from China. For Turkmenistan and other Central Asian states, China offers economic relationships that are not overtly tied to political issues,” he said.
  • China halfway to target to reduce coal capacity by 800m tonnes

    CHINA, 2017/08/11 China has hit the halfway point towards conference it target of cutting coal mining capacity by 800 million tonnes a year by the end of 2020, the national planner said on Friday. Tackling industrial and mining overcapacity has been a priority for Beijing to make China’s economy additional efficient and environmental friendly. In its five-year plan for the 2016 to 2020 period, the government set the goal to reduce its coal production capacity.
  • China's shale gas output jumps in 2016

    CHINA, 2017/07/11 China produced additional shale gas last year, as the world's biggest energy producer and consumer cleans up its coal-dominated energy mix. Its shale gas yield increased 76.3 % to 7.9 billion cubic meters in 2016, a record high, the Ministry of Land and Resources (MLF) said Monday in a statement. A total of 8.79 billion yuan (1.3 billion U.S. dollars) was spent prospecting for shale gas last year.
  • Petrobras, China's CNPC to jointly exploit energy resources

    CHINA, 2017/07/11 Brazil's national-run oil giant Petrobras announced on Tuesday that it signed a memorandum of considerate with the China National Petroleum Corporation (CNPC) to exploit energy resources in Brazil and abroad. In the statement, Petrobras said that the transaction will allow the two national oil companies to benefit from each other's capacity and experience in oil and gas production.
  • Decline in China’s coal consumption accelerates

    CHINA, 2017/05/13 China’s coal use declined 3.7% in 2015, according to official statistics released by the Chinese government today. This is the second year running that the consumption of China’s most polluting fuel has declined. What’s additional, the reduction took place while the economy grew.