Posts Tagged ‘China’

CNOOC, China’s oil darling, posts disappointing results

When they announced their annual results last week, the overarching theme this year for Chinese state-owned oil companies was prudence, cost controls and efficiency.

CNOOC Ltd, the smallest and traditionally the most nimble of the three companies, however, disappointed in both earnings and organic growth last year and also drew flak for its failure to cap ballooning upstream costs.

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Chinese oil demand: a moderate February rise

In line with the general buzz about what Chinese oil demand is doing these days — not too hot, not too cold — Platts’ estimate of that number showed a small rise in February compared to a year ago. You can read our analysis here.

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Key steel themes in 2013 will impact markets this year

The past twelve months saw a number of developments in global steelmaking raw materials markets, most of which will have a bearing on markets in 2014:

Chinese steel output unstoppable: Despite a steel sector that seems permanently bearish, full of cash-strapped traders, unprofitable mills and stuttering end-user markets, China keeps on making more steel. Crude steel production in 2013 rose 7.5% year-on-year to reach around 780 million mt and the Asian giant is expected to produce close to 810 million mt this year. Even if output starts to plateau, incremental increases on such a large base will continue to drive strong demand for raw materials.

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Chinese oil demand in December: once again, it’s down year-on-year

For the second month in a row, China in December has posted a year-on-year decline in its oil demand. The big engine of oil market growth–and price support–for so long isn’t proving to be much of a force at all recently. You can see our analysis here.

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Chinese oil demand: is something missing?

For all the talk about slowing growth, China’s oil demand didn’t fare too dismally last year. It likely remained stable at around 3%, even as the government doggedly pursued reform and rebalancing in favor of accelerated GDP numbers.

Yet the fact remains that analyzing oil demand in China is often a stab in the dark based on scant data. Unlike many other major consumers that release actual consumption data, China’s statistics offer no such transparency.

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Chinese oil demand in November: a year-on-year decline

Chinese oil demand in November did something it rarely does: it declined from the year-ago level. You can read our analysis of the numbers here. 

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Chinese oil demand: slight uptick in October

Chinese oil demand in October was up a bit less than 1% from October 2012, which was still a positive number; in September, the year-on-year comparison was negative. You can read Platts’ monthly analysis here.

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Chinese oil demand: and now, a decline

The up-and-down Chinese oil demand figures recently have been mostly up…until now. The Platts estimate of Chinese oil demand in September showed a year-on-year decline of more than 2%. You can read our analysis here. 

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Petrodollars: The surprising lack of downstream interest from China’s oil giants

The great Chinese spending spree in the upstream oil sector outside of China hasn’t moved to the downstream after some earlier signs that it would. Song Yen Ling looks at the trends in this week’s Oilgram News column, Petrodollars.

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Some strange business going on at one of China’s biggest oil companies

The loss of four senior management officials in the past week at China’s largest state oil company China National Petroleum Corp.  is still shrouded in mystery, serving to fan even more speculation about their resignations.

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