A Sinopec International Petroleum joint venture has discovered gas deposits in Northwest Myanmar with a capacity of 2.1 million cubic feet per day, Reuters reported Monday, citing local media's reports.
PetroChina Co Ltd, China's largest oil producer, announced Thursday that it has agreed to buy a 50-percent stake in a natural gas project with North American gas giant Encana Corporation for 5.4 billion Canadian dollars ($5.43 billion).
The China Electricity Council (CEC) released a report Wednesday, predicting the country's growth in electricity consumption will slow to 12 percent in 2011.
An "over-aggressive" target for the nuclear power industry by 2020 may harm the sector's healthy development, an industry expert from the National Development and Reform Commission's (NDRC) think tank cautioned.
The energy consumption per unit of gross domestic product (GDP) for China's major energy intensive industries decreased by more than 20 percent during the 2006-2010 period, the statistics authorities have reported.
China has called upon its energy companies to ensure fertilizer producers get ample supplies of natural gas for the spring planting season, to avert shortages as demand grows for foodstuffs including grain and meat.
The country is set to resume its development plans for the Nujiang River in Southwest China due to increasing demand for energy.
China National Offshore Oil Corp (CNOOC) Ltd, China's largest offshore energy producer, agreed to pay $570 million in cash for a one-third stake in Chesapeake Energy Corp's Niobrara shale project, adding to its US holdings in crude oil production.
China plans to invest in further development of long-distance, high-capacity power transmission technology, aiming to bring more power from its remote western and northern regions to the energy-hungry East and South coasts.
China's top offshore oil and gas producer, CNOOC Ltd, has lifted its 2011 production target by up to 11 percent as new projects at home and overseas come on stream.
China's natural gas demand will rise 20 percent in 2011 to 130 billion cubic meters (cu m) and production will increase 16 percent to 110 billion cu m, according to a statement from the National Energy Administration (NEA) on Jan 28.
China's power consumption is expected to grow about 9 percent in 2011 to 4.5 trillion kwh, a slower pace of growth from the year before, Reuters reported citing the National Energy Administration on Friday.
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