The government of Shanxi province, which produces one-fourth of China's coal, issued an adjustment and stimulus plan to reform its coal industry in the coming years on April 15, Shanghai Securities News reported on Friday.
Shanxi province, China's largest coal producer, said it has plans to establish the country's first coal and coke futures exchange to help stabilize the domestic market and secure a bigger voice in international pricing.
The World Bank has agreed to lend $80 million to China to help the country increase the development and utilization of coal bed methane (CBM) and coal mine methane (CMM) as substitutes to coal.
CNOOC New Energy Investment Co Ltd, a wholly owned subsidiary of China National Offshore Oil Corp (CNOOC), and Datong Coal Mine Group will invest 30 billion yuan in a coal-to-gas project in Datong, Shanxi province.
HONG KONG: Steelmaker Shougang Concord International Enterprises is buying a 12.05 percent stake in Fushan International Energy Group for HK$1.2 billion to ensure adequate coal supplies.
Frank Ingriselli, CEO of Pacific Asia Petroleum, turns and greets Heidi Wong, his company's general manager, as she enters and introduces her to the rest of the room, explaining Wong is a great illustration of Pacific Asia's connection to Texaco; Wong, like Ingriselli, cut her teeth in China's energy industry as a Texaco employee.
Taiyuan, capital of China's coal-rich Shanxi province, pledged to turn into a greener city, even though hardly hit by the worsening international financial crisis, said Li Junming, the city's vice mayor on Monday.
