News

Oil Future Price Grew Greatly for Oil Pipe Exploding

On Wednesday, closing quotation of oil future price in New York was 78.68 dollars per barrel, growing greatly by 1.9% and recovering from the lowest level in four years. It was considered as being caused by an oil pipe exploration in Saudi Arabia.   A security officer of Saudi Arabia disclosed...

Russia Withdrew Negotiation for Supplying Gas to Ukraine

It was reported that after failing to receive guarantee how Ukraine paying for bills, Russian representatives left assembly room, ending negotiation which was expected to settle disputes between Russia and Ukraine about gas price having been lasted for several months.   However, both European and...

Oil Prices May Decline for Oil Oversupply

For global oil sufficient supply, demands being affected by economic slowdown and demand slack season, since the early of June, American oil prices have fallen from 107 dollars per barrel to current 84 dollars per barrel. Although oil prices have declined a lot, current supply is still abundant. Adding...

China and Russia Signed New Gas Supply Contract

It was reported that China and Russia had already passed the plan that Russia supplies gas to China through its eastern region and signed the new gas supply contract that transmits gas through Aletai which is closer to the western of Russia. The negotiation also enhanced partnerships between two sides...

Gazprom May Stop Buy Gas from Turkmenistan and Uzbekistan

It is reported that Gazprom, the Russian energy giant plans to stop buying gas completely from Turkmenistan and Uzbekistan.    Gazprom intends to give up purchasing gas from Turkmenistan and Uzbekistan recently. However, it needs to abolish all of contracts signed by two governments. At present,...

Chinese Apparent Oil Demands in August Growing

The newly-published data show that Chinese apparent oil demands in August was 41.19 million tons, 9.74 million barrels per day, rising by 3.7% compared with the same period of July which is the highest growth rate in the year. It was notable that China was still a net exporter of refined oil products....

Pakistan Advised Iran to Abandon Peace Gas Pipe Program

Recently, Pakistan has put forward alternative solution of Peace gas pipe program to Iran. The new solution stipulates that supply Iranian gas to Pakistan through Oman, instead of crossing through boundaries directly. Abasi, the Minister of Ministry of Oil & Natural Resources of Pakistan said the...

Future Development Trend of Butterfly Valve in China

1. As oil has been developing, market trend of cast steel valve products transfer from inland oil fields into offshore oil fields. With the development of thermal power and hydropower and nuclear power from 300,000 kw to 300,000 kw in the electric power industry, valve products should be based on equipment...

Chinese Valve Industry Develop into High-end Modernization

With the manufacturing and technical support, Chinese valves are not fall behind foreign valves. In contrary, technologies and innovation of some valves are comparable with that of international enterprises. Chinese valve industry will develop into high-end modernization.   Promoted by industrialization,...

Russia Denied to Cut off Gas Supply to Europe

It is reported on August 27, Ukraine warned Europe that Russia may cut off gas supply to Europe in this winter. But Russia responded that Russia will continue to supplying gas to Europe, no matter how political situations will be.   Yatsenyuk, the Prime Minister of Ukraine said the Ukraine learned...

China Signed Gas Cooperation Agreement with Uzbekistan

On August 19, under the witness of Xi Jinping, the President of China and Karimov, the President of Uzbekistan, Zhou Jiping, the chairman of the board of CNPC signed a gas cooperation agreement with Fayzullayev, the chairman of the management committee of Uzbekneftegaz.   According to the agreement,...

Energy Reform Law Ending Monopoly of Oil & Gas in Mexico

On August 11, Enrique Peña Nieto, the President of Mexico signed a energy reform law which could be considered as a milestone in history, ending officially the monopoly of oil and gas production and power sector having been lasted for 75 years. The law will allow foreign and private enterprise enter...