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Sinopec processes 5% more oil

Business | Energy
2011-7-23

SINOPEC Corp yesterday said oil processing increased 5 percent in the first six months of this year on higher demand. Crude throughput rose to 108.53 million tons in the first half, or 4.4 million barrels per day,...

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Sinopec oil processing grows 5% in first half

Business | Energy
2011-7-22

SINOPEC Corp, Asia's largest refiner, said oil processing increased 5 percent in the first half of this year on higher demand. Crude throughput rose to 108.53 million tons in the first half, or 4.4 million barrels...

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Oil tops US$100 for first time since early June

Business | Energy
2011-7-22

OIL topped US$100 per barrel yesterday for the first time since early June on an improving outlook for the US economy, and European leaders moved closer to agreement on more financial aid for Greece. The Conference...

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Oil settles higher as debt talks continue

Business | Energy
2011-7-21

CRUDE oil futures zig-zagged to settle moderately higher yesterday as talks continued over debt issues in Europe and the US that could affect future demand. Benchmark West Texas Intermediate crude for September...

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CNOOC buys Canada's OPTI

Business | Energy
2011-7-21

CNOOC Ltd, China's dominant offshore oil producer, agreed to acquire struggling Canadian oil sands producer OPTI for US$2.1 billion as it seeks to boost its unconventional energy resources abroad. CNOOC yesterday...

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CNOOC to buy Canada oil sands producer for US$2.1b

Business | Energy
2011-7-20

CNOOC Ltd has agreed to acquire oil sands producer OPTI Canada Inc for US$2.1 billion in cash and debt, China's dominant offshore oil producer said today. The principal asset of OPTI consists of a 35 percent stake...

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Oil higher on weaker dollar, stronger home starts

Business | Energy
2011-7-20

OIL reversed direction again yesterday, rising 2 percent as traders took their cues from the dollar and stock markets. Crude oil is used to produce gasoline and other fuels, and it's also a major investment commodity....

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Fuel stocks expand as usage dips

Business | Energy
2011-7-20

CHINA'S fuel inventories grew due to a slower consumption in the second quarter of this year, the National Development and Reform Commission said yesterday. The country's refined oil product stockpiles were 1...

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CNOOC's Hainan LNG Terminal Gets Approval

Business | Energy
2011-7-20

CHINA has approved China National Offshore Oil Corp's liquefied natural gas project in southern Hainan Province, which will help meet rising demand for the cleaner-burning fuel. The National Development and Reform...

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China first-half apparent fuel consumption rises 7.2%

Business | Energy
2011-7-19

CHINA'S apparent fuel consumption in the first half rose 7.2 percent from a year earlier to 118.4 million metric tons, the National Development and Reform Commission said in an online statement early today. The...

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Oil loses about 2 percent on stronger dollar

Business | Energy
2011-7-19

GROWING concern about the US and European economies weighed on oil yesterday as prices fell nearly 2 percent. Benchmark West Texas Intermediate crude for August delivery gave up US$1.31 to settle at US$95.93 per...

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Shale-gas potential

Business | Energy
2011-7-19

CHINA Petrochemical Corp has agreed with Exxon Mobil Corp to jointly assess shale-gas potential in southwest China's Sichuan Province as the world's fastest-growing major economy seeks unconventional sources of energy. ...

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Fire causes oil unit to shut down

Business | Energy
2011-7-19

PETROCHINA Co, the nation's second-largest refiner, has shut down a crude distillation unit at its largest refinery in Dalian in Liaoning Province, following a fire on Saturday. The blaze was caused by a leak...

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Oil climbing on expectations of tighter supply

Business | Energy
2011-7-16

THERE are a few certainties when it comes to predicting oil prices. One of them is that the world will use more oil in coming years. The question, analysts say, is whether major oil producers like Saudi Arabia,...

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Coal-bed methane output expected to rise

Business | Energy
2011-7-16

CHINA plans to more than double its coal-bed methane output by 2015 by boosting incentives. The nation aims to increase annual production to 21 billion cubic meters by 2015 from 8.6 billion cubic meters last year,...