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1 month ago | yicaiglobal.com | Dou Shicong |Qian Tongxin |Guo Jiying |Tang Shihua

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China’s Henan Waives Highway Tolls for Hydrogen Trucks

Jan 7, 2025 | yicaiglobal.com | Guo Jiying

(Yicai) Jan. 8 -- Henan province has become the first Chinese provincial-level region this year and seventh overall to exempt hydrogen-powered trucks from paying highway toll fees. Hydrogen trucks in China’s central Henan will not need to pay highway fees between Jan. 25 and Dec. 31 this year, according to an announcement released by the provincial government on Jan. 6.
China's Electrification to Reach 34% by 2030, Official Says

Nov 29, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Nov. 29 -- With China speeding up the transport, industrial, and other sectors' electrification, the country's electrification rate is expected to reach 34 percent by 2030, according to the deputy director of China Electricity Council's planning and development department. New energy power generation has strong randomness, volatility, and intermittency.
Global Oil Oversupply to Top One Million Barrels a Day Next Year, IEA Says

Nov 15, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Nov. 14 -- There could be an oversupply of oil of 1.15 million barrels per day next year, as demand slumps amid a shift to renewable energy sources and a global economic slowdown, the International Energy Agency said in its November oil market report released yesterday. This is the biggest supply gut predicted by the IEA since April when it first warned that supply would outstrip demand in 2025, and it is 40,000 barrels more than its forecast last month.
China’s First Energy Law to Bite Suppliers and Consumers in 2025

Nov 12, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Nov. 12 -- China’s forthcoming first energy law is set to have a far-reaching impact on the energy industry, imposing clear requirements for a low-carbon transition, according to a research professor at Peking University. The law addresses key issues such as ensuring a safe, stable energy supply and promoting a green transition, Yang Lei, deputy dean of the Institute of Energy at Peking University, told Yicai.
China’s Sinopec, France’s TotalEnergies Ink 15-Year LNG Supply Deal at CIIE

Nov 6, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Nov. 6 -- Chinese oil major China Petrochemical Corporation, better known as Sinopec, has penned a 15-year procurement contract for liquified natural gas with France’s TotalEnergies, the world's third-biggest LNG supplier, at the ongoing seventh China International Import Expo. Sinopec will buy two million tons of LNG from TotalEnergies a year over a 15-year period starting 2028, the Beijing-based company said.
China’s Big Power Suppliers Log Fat Profits in First Nine Months Despite Pressure From Green Sources

Nov 5, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Nov. 5 -- Four of China’s five state-owned power generation companies raked in hefty net profits amounting to CNY29.2 billion (USD4.1 billion) in the first nine months, buoyed by tumbling fuel prices, but the Big Four warned that electricity prices are dropping as more energy from renewable sources enters the grid.
Leading Chinese Wind Turbine Makers Sign 'Self-Discipline' Pact to End Price Wars

Oct 17, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Oct. 17 -- Twelve top Chinese wind turbine manufacturers have signed a 'self-discipline' agreement with the goal to stop their earnings decline caused by fierce price competition.
Sinopec Asks Australian Partner to Lower LNG Supply Price

Oct 10, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Oct. 10 -- China Petroleum and Chemical Corporation, better known as Sinopec, has informed its Australian partner that it would like to reduce the price of the liquefied natural gas previously agreed in their long-term supply deal. “Origin Energy confirms that Australia Pacific LNG has received a price review notice from Sinopec in respect of its long-term LNG supply contract with Australia Pacific LNG,” Sydney-based Origin Energy announced on Oct. 4.
Yulong’s Complex in Shandong Comes on Stream as Part of Province’s Plan to Solidify Petrochemical Industry

Sep 26, 2024 | yicaiglobal.com | Guo Jiying

(Yicai) Sept. 26 -- Yulong Petrochemical’s new complex in Shandong has officially begun operations, marking significant progress in consolidating the Chinese eastern province’s petrochemical industry. Part of the first phase of the Yulong Island Refinery and Petrochemical Integrated Project came on stream yesterday after 34 months of construction, local media outlets reported on the same day. The project is the largest ever built in Shandong, with an investment of CNY116.8 billion (USD16 billion).