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China increased imports of oil and gas last year, the country's National Bureau of Statistics reports. In 2018, China imported 10.1% more oil. The volume of oil purchases reached 460 million tons. In December, imports grew by 30% compared to the earnings period of 2017. In the last month of the year, China imported more than 43 million tons of oil. At the same time, China reduced its oil production by 1.3%. Production decreased to 189.11 million tons in 2018 or 3.78 million barrels per day. Natural gas purchases increased by 31.9% in 2018 and exceeded 90 million tons. By contrast, gas production in China grew by 7.5% to 161 million cubic meters. Chinese authorities plan to increase oil and gas production in the country. Oil production will increase to 200 million tons. Natural gas production will reach 360 billion cubic meters, largely due to China’s desire to expand the use of clean energy.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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