BEIJING, Feb 15 (Reuters) – Oil giant BP Plc
plans to start drilling at the 43/11 deepwater block in the
South China Sea this year, after receiving approval recently
from the Chinese government, a company executive said on
“When we start depends on many factors, such as whether the
drilling rig is ready. We hope to start drilling there by the
end of the year.” BP China President Chen Liming told Reuters.
BEIJING, Feb 13 (Reuters) – China Petroleum and
Chemical Corp (Sinopec) plans to invest 53
billion yuan ($8.41 billion) by 2015 to boost refinery capacity
and build up oil and gas production in northwestern Xinjiang
region, company officials said on Monday.
The top Asian refiner planned to double the capacity of its
Tahe refinery in Kuqa county to 10 million tonnes per year, or
200,000 barrels per day (bpd), by 2015, a company official said.
BEIJING (Reuters) – Origin Agritech Ltd said it expects the Chinese government to approve its genetically modified organism (GMO) corn for production in 2013, China’s first GMO strain in commercial production, its chairman Han Gengchen said on Friday.
China gave the phytase corn biosafety approval in November 2009 and at the time scientists had expected large-scale production could happen as early as 2012, but a complicated approval process for use as seed has delayed the expectation.
BEIJING, Feb 9 (Reuters) – January car sales in China
declined 23.8 percent from a year earlier, marking the biggest
monthly plunge in more than three years as automakers and
dealers reduced working hours during the lunar new year
holidays, which came earlier than last year.
Sales could regain momentum in February due in part to weak
year-ago sales when the monthly tally was well below the 1
million mark, industry observers say.
BEIJING (Reuters) – China will boost imports of rapeseed and rapeseed meal from Canada, traders said on Monday, after Beijing banned Indian meal after tests showed it contained a toxic chemical.
If China buys more rapeseed, or canola, from Canada, the world’s top exporter, it could firm ICE canola prices, which have been rising for the past two weeks in anticipation of larger imports.
BEIJING, Jan 20 (Reuters) – China is rapidly becoming
a country on wheels and its crowded driving schools are racing
to churn out licensed drivers as fast as cars roll off the
But judging by the daily smash-ups and blatant disregard for
even basic traffic rules on China’s roadways, quantity seems to
have trumped quality at many schools.
BEIJING, Jan 12 (Reuters) – China Grain Reserves Corp
(Sinograin), which manages the state grain reserves, will expand
its commercial operation of soy crushing to profit from the
country’s rising demand for cooking oils and animal protein,
according to analysts and local media reports.
The expansion will enable the state-owned company to compete
for market share with Singapore-based Wilmar International
, which now has the biggest crushing capacity and
market share of consumer pack edible oils in the country, the
world’s top soy importer.
BEIJING, Jan 12 (Reuters) – Car sales in China climbed
5.2 percent in 2011, the slowest pace since the
nation’s car culture took off at the turn of the century, as
consumers shunned local brands after Beijing scrapped tax
incentives for small cars.
Even so, solid demand for foreign marques helped China keep
its ranking as the world’s top market, with total car sales of
14.5 million, about 2 million more than in the United States
BEIJING, Dec 12 (Reuters) – The expansion of China’s
rapeseed crushing capacity coupled with a lower domestic harvest
will lead China to boost imports of the oilseed next year,
particularly from Canada, the world’s top exporter, traders
More rapeseed imports would replace imports of oil and meal,
which China increased last year after Beijing moved to restrict
imports of Canadian canola — similar to rapeseed, since 2009.
BEIJING, Dec 9 (Reuters) – Car sales in China rose
0.29 percent in November from a year earlier, holding
onto a mild rebound from a trough hit in May, as automakers used
year-end promotions to lure customers back to showrooms.
The momentum, deflated in the data by the year-ago base
effect, is expected to pick up in December as automakers and
dealers, struggling to meet their annual sales target,
aggressively offer discounts and give-aways.