Nov. 10, 2008 (China Knowledge) - The output of China's largest oilfield Daqing field, operated by the country's largest oil and gas producer PetroChina<601857><857><PTR>, amounted to 33.635 million tons of crude oil from January to October this year, said PetroChina's parent China National Petroleum Corp (CNPC) without providing any comparative figures.
Located in China's northeast Heilongjiang Province, Daqing Oilfield aims to produce 40 million tons of crude oil in 2008.
During the same period, Changqing field, PetroChina's fourth largest oilfield, produced 11.5 million tons of crude oil, according to CNPC.
Meanwhile, its output of natural gas amounted to 11.5 billion cubic meters, and that of oil equivalent totaled 20.905 million tons, up 20.9% from a year earlier or a year-on-year increase of 3.715 million tons.
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Aug. 19, 2009 (China Knowledge) - Sichuan Tengzhong Heavy Industrial Machinery Co Ltd, the potential buyer of General Motors Corp's Hummer unit, is likely to close the deal at the end of September, according to unnamed sources, the Beijing Youth Daily reported on Monday.
The two companies signed a framework agreement in June and have been working out detailed terms. Tengzhong is also preparing materials to submit to the National Development and Reform Commission and the Ministry of Commerce, said the Chinese-language newspaper.
Another source said on Tuesday that Tengzhong plans to retain Hummer's auto dealership network and will maintain high-quality aftersales service.
The company has also said it has no plans to shift Hummer equipment and technology to China from the U.S. It will retain the existing management team to ensure quality and to keep Hummer fans satisfied.
Local media earlier reported that the Chinese government might reject the deal due to the gas-guzzling nature of Hummer vehicles and because Tengzhong lacks experience in the automobile industry.
Tengzhong, a little-known company based in Chengdu, the capital of Sichuan Province, earlier said it would aim to make a green Hummer to meet the government's fuel-efficiency and environmental protection standards.
TAKING OFF: Yinchuan, capital of Ningxia Hui Autonomous Region, has been witnessing rapid industrial development in recent years (WANG PENG)
From a vibrant greenbelt along the ancient "Silk Road" to a coal-fired modern industrial center, the tiny region of Ningxia, covering an area of 66,400 square km in northwest China, has never lost its shine as a bright spot on China's economic landscape.
But after years of torrid growth, its dynamic growth engine, though still roaring along, appears to be at a muddy crossroads. Typifying the prospects and problems facing China as a whole, Ningxia's rapid industrialization driven by the extraction of rich coal resources has given rise to a pollution nightmare. For such a fragile ecosystem where encroaching deserts are swallowing farmland and grassland, any further environmental damage is unbearable. The Yellow River, curving through the region, is also at risk. Farming and industrial production threaten to pollute and suck dry the river that has fed the region for centuries.
No country in history has emerged as a competitive industrial power without incurring some environmental damage that takes time to heal. The question for Ningxia is how to minimize pollution and sustain economic growth since its coal dependence defies a quick fix.
The experience of the Ningdong Energy and Chemical Industry Base in the eastern part of Ningxia provides an insight into how a green coal industry could prop up the economy and at the same time curb environmental degradation. By combining a series of energy-conserving and low-emission technologies, it is striking a balance between nature and business.
A string of numbers shows its weighty significance for the regional economy. Having started construction in 2003, the base is expected to record production capacities of 130 million tons of coal, 20 million tons of coal chemicals and 16 million kw of power generation by 2020 when it is completed.
"The base is taking advantage of commodity price drops and a marked financial easing to accelerate its construction," Wang Jianmin, a senior official with the Ningxia Autonomous Regional Development and Reform Commission, said in an interview with Beijing Review. "Improvements in management and services there also appeal to investors at home and abroad."
In addition, its proximity to the Yellow River has helped secure the water supplies needed for power generation and chemical industries, he said.
Reduce, reuse, recycle
For decades, coal mining has been a lifeline for millions of people in Ningxia. It is therefore hard to see how the region can turn its back on such a reliable fuel. But in Ningdong, coal-related industries are shrugging off their former dirty image. Coal-burning plants at the base are subjected to more stringent emission standards and waste recycling requirements. In addition, the base's high quality coal-having fewer impurities and more chemical reactivity-ensures green production.
Coal gasification-converting coal into gas for use as a feedstock for making chemicals like olefin and methanol-has been a pioneering project of the base. But its viability faces the intractable problem of waste gases being released into the environment. In response, advanced air separation was introduced to remove impurities from waste gases, making them reusable for synthetic ammonia and urea production. Carbon dioxide released from coal-fired power generation is also piped back in for use in urea production, effectively eliminating air pollution.
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Oct. 21, 2009 (China Knowledge) - Huaneng Power International Inc<600011><0902>, the largest electricity provider in China, said its net profit attributable to shareholders hit RMB 4.13 billion in the first nine months of this year under the Chinese Accounting Standards, representing a year-on-year increase of 261.37%.
According to its quarterly financial report, consolidated operating revenues amounted to approximately RMB 56.68 billion for the nine months ended Sep. 30, 2009, up 6.46% year on year.
Huaneng Power attributed the growth mainly to an increase in operating revenues contributed by the operation of new generating units and the carryover effect of tariff adjustments in the second half of last year.
A shares of Huaneng Power edged up 1.81% and ended at RMB 7.89 on Wednesday, while H shares rose 7.54% to HK$5.56.
China National Petroleum Corporation (CNPC) said Tuesday that the Turkmenistan Amu Darya natural gas project, invested by its subsidiary PetroChina Co. will begin transporting natural gas to northwest China through the Central Asia Pipeline, which will begin operations next month.
According to a notice on CNPC's website, the gas processing plant for the Amu Darya project began producing qualified natural gas from November 22. This project can supply China with more than 5 billion cubic meters of gas annually and is the main source of the Central Asia Pipeline.
Kou Zhong, deputy director of the China Petroleum Planning & Engineering Institute pointed out that China can transport 5 billion cubic meters of gas through the Central Asia Pipeline next year, and the capacity of the pipeline will increase to 30 billion cubic meters by October 2010.
PetroChina plans to have an annual production of 13 billion cubic meters for the Amu Darya project by 2011, and the company will also purchase 17 billion cubic meters of gas from Turkmenistan in the next 30 years to make full use of the Central Asia Pipeline.
Zhang Guobao, head of the National Energy Administration said Monday that the gas from the pipeline can help to ease the tight natural gas shortage due to the cold weather from the beginning of November.
The Amu Darya natural gas project is China's largest overseas natural gas project so far.
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