Page 6 of Valve Industry News, Industrial News - China Topper

Industry News

Oil Demands Decline Indicates Global Economic Growth Slow

Energy Aspects, a consulting company in London claims that the substantial decline of oil demands is a leading indicator that global economic growth slows down. The new GDP published by Europe and Japan also proves that.   For the weak demands of European and Asian oil refineries and the falling...

Deal Between Rosneft and Vitol Fizzled Out

It is reported that the deal between Rosneft and Vitol, the oil trader which is worth for 2 billion dollars has already fizzled out. It is the new indication that the upgrading sanctions by the Western are hindering the Russian state-owned oil corporation to realize its ambition.   Before, Vitol,...

IEA: EU Has High Dependence on Russian Gas

On Monday (August 25), for tense relationship between Russia and Ukraine, Maria Van der Hoeven, the Chief Executive of IEA claimed that EU still has high dependence on Russian gas in the short term and it needs more time to realize the diversification of energy supply.   Van der Hoeven pointed...

LNG Market in China Has Overcapacity

This year, LNG market has already entered into cold winter. The whole industry is depressed, needing all of efforts to rescue market together. LNG market in China has overcapacity.   It is known that Chinese LNG market is entering into a pathologic cycle gradually since 2013. Explosive growth of...

Slovakia Launched a Pipe to Supply Gas to Ukraine

On Tuesday, Slovakia announced to launch a pipe to supply gas to Ukraine from EU. It is an important step that EU provides support to Ukraine for the upgrading disputes with Russia.   Reverse gas supply means that EU will supply gas to the eastern of Europe, as one of the responses for Gazprom...

Russia Preventing EU from Exporting Russian Gas to Ukraine

Moscow is seeking for prevent EU from exporting Russian gas to Ukraine. It threatens to cut off all of lifelines of Kiev which may intensify Ukrainian energy crisis in this winter.   When Moscow gives out threat, officials of EU are preparing new sanctions on Rosneft, Gazprom Neft and Transneft,...

Korea Imported Oil from The U.S.

Before dawn on September 11, a cargo ship loading 4 hundred thousand barrels of American gas condensate will arrive at Port of YOSU in Jeollanam-do, Korea. Korean oil industry is very concerned about that. It is the first time for 41 years that Korea imports oil from the U.S. Korea may get rid of excessive...

Chinese Economy Slowing Down Contains Gas Demand

Growth rate of Chinese gas demand in 2014 may decrease to the lowest level in three years. And it will continue falling in the next year. Due to Chinese economy slowing down and demoded raising price, gas demand will be far lower than anticipation.   The slowing growth rate means that demand will...

Gas Supply to China through the Western Line Expanded

On September 17, Miller, the CEO of Gazprom said that Russia had already negotiated with China for gas supply through the Western Line and discussed the possibility of expanding the quantity of gas supply.   On that day when Miller reported Putin, the Russian President, he stated that Russian and...

Iran Has Become the Third Largest Oil Supplier for China

Import volume of oil from Iran to China increases significantly. Iran has already become one of the most important oil suppliers for China. What’s more, China also becomes the largest trade partner for Iran officially since 2009 when exceeded EU and the leading investments supplier, which filled...

Russia Should Not Use Gas as Weapon

Guenther Oettinger, the energy commissioner of EU claimed that he hoped that Russia could reach a transitional solution with Ukraine for gas which having been cut off for three months on the meeting between Russia, Ukrainian government and Ukrainian pro-Russian, held in Berlin this Friday.   However,...

Rosneft Found an Oilfield in the Arctic Pole

Rosneft claimed that they had already found an oil field in the Arctic Pole with the assistance of Exxon Mobil, which meant that the explored region may become one of the most important global oil-producing regions.   Igor Sechin, the CEO of Rosneft announced that there were as high as 1 billion...

Japan Plans to Build Undersea Gas Pipe

Japan intends to activate energy cooperation with Russia. In its new plan, Japan plans to build an oil refining plant which is not far from Vladivostok and build under gas pipe from Sakhalin to Tokyo crossing though Japan Sea.   Mayor of Niigata announced that the oil refining plant would be invested...

Gas May Not Reduce Carbon Emission

Gas is always treated as eco-friendly fuel. The U.S. has ever expected to use gas to get rid of pollution caused by coal. Because of total of carbon dioxide released by burning coal is two times of gas. However, a new research points out that widely using low price gas may not reduce carbon emission...

Construction Cost of South Stream Gas Pipe Rising

On October 10, Gazprom expressed that since June when concerned countries put off South Stream gas pipe from Russia to Europe, the construction of South Stream gas pipe had risen from 16 billion euro to 23.5 billion euro.   EU took above measures under the circumstance that crisis in the eastern...

Russia Failed to Reach Gas Supply Contract with Ukraine

Russia failed to reach a gas supply contract for restarting to transmit gas to Ukraine in the coming winter, when Russian officials met with Ukrainian officials in Brussels on Tuesday.   Focuses of dispute include: how much Ukraine should pay to Russia for gas having been consumed, when Ukraine...

Chinese Oil Demands Grew Greatly in September

On October 27, the newest analysis of Platts showed that Chinese oil demands increased to the second highest level in September. The growth rate was the highest record in 15 months. In September, Chinese oil demands were 42.34 million tons (10.35 million barrels per day), growing by 7.4%, compared with...

Russian High Oil Production Supports Global Oversupply

Relevant data showed that Russian oil and gas production did not be affected by sanctions of the Western, supporting global oversupply and making oil price continue bearing pressure.   Commerzbank claimed that Russian constant high oil production was one of the factors which result in oversupply...

China Will Become the Largest Oil Consumer

According to the information of IEA, China will become the largest oil consumer in the next 20 years, instead of the U.S.   “In the early of the 2030’s , China will take place of the U.S., becoming the largest oil consumer in the world. And that will be a historic moment.” IEA...

IEA: A Gas Transaction Center Is Needed in Asia

As a kind of clean energy, gas plays a key role in Asia, especially having great influence on ensuing security of energy usage, synergetic development of economy and environment. However, the influence expanding further needs tighter connection between Asian gas market and global gas market. The report-How...