en_矿业资讯

Aramco eyes downstream deals

Source: www.chinamining.org         Citation: China Daily       Date: March 21, 2017

A Saudi Aramco employee sits in his company stand at the Middle East Petrotech, an exhibition and conference for the refining and petrochemical industries, in Manama, Bahrain. [Photo/Agencies]

The world`s largest oil producer Saudi Arabian Oil Co, also known as Saudi Aramco, is set to continue beefing up investment in China`s integrated downstream to further bolster its presence in the world`s second-largest economy, its President and Chief Executive Officer Amin Nasser said.

Aramco is pressing ahead looking for indigenous partners to establish more joint ventures in China for downstream businesses, including refining, chemical, retail and distribution, Nasser told China Daily in Beijing on Monday. 

Part of the company`s plans includes raising the proportion of its crude oil exports to China in the next couple of years, a move Nasser said would help China`s energy security. Currently, Aramco`s crude exports to China are nearly 15 percent of the nation`s total imports.

The strategy at the heart of Aramco`s plan is to secure its market share of oil supply by matching the refining capacity with crude exports to China, analysts said. 

Kunal Agrawal, a senior Asia-Pacific oil and gas industry analyst at Bloomberg Intelligence, said that considering the growing demand in the Asian refinery sector, the Saudis would continue to seek investments in the region in the next few years. 

Saudis produce 10 to 11 million barrels of crude a day. Their refining capacity is 3 million barrels at home and will be increased to 3.5 million by 2020, he said. 

Agrawal said: "Now if they can secure take-or-pay contracts for refining the remaining 6.5-7.5 million barrels a day in markets abroad, they will have locked down their crude oil supply share forever. After that, the Saudis will be assured that there is end demand for all their oil." 

In addition to Aramco, Chinese companies are also eager to reach a consensus on such cooperation, as the output of China`s crude oil began to decline last year, said Xi Jiarui, a senior crude industry analyst at the Beijing-based JLC Network Technology Co Ltd, a commodity information provider. 

During the visit to China, Nasser signed a memorandum of understanding with Beijing-based China North Industries Group Corp on cooperation over refining. 

Aramco has two joint ventures with local firms in Fujian province, one being a venture with Sinopec and another with Exxon Mobil Corp.

With regards to its plan to go public in 2018, predicted to be the largest IPO in the world, Nasser said: "Things are going very well." 

More details will be disclosed in the coming months since the process of the initial public offering is under way, he added.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Russia`s Gazprom to start supplying gas to China in 2019

Source: www.chinamining.org     Citation: chinadaily.com.cn        Date: March 17, 2017

The headquarters of Gazprom is seen on June 27, 2014, the day of the annual general meeting of the company`s shareholders in Moscow. [Photo/Agencies]

Russian gas giant Gazprom said the company plans to supply gas to China via the east route of the China-Russia natural gas pipeline as early as May 2019, rather than 2018 as scheduled, 21st Century Business Herald reported Thursday, citing the company`s Vice-President Andrey Kruglov.

He said the delay was because it took almost a year to get all the necessary approvals after a deal was signed in May 2014. He added that discussions on the west route have advanced to a mature stage.

According to the contract signed under the witness of Chinese President Xi Jinping and his Russian counterpart Vladimir Putin, the east route of the pipeline will transport 38 billion cubic meters of natural gas every year to China over a period of 30 years starting from 2018. 

Kruglov said the amount of gas expected to be transported to China might match, or even exceed, east route`s 38 billion cubic meters as the gas field in West Siberia could supply more. 

Natural gas consumption in China is projected to reach 360 billion cubic meters, accounting for 10 percent of the entire energy mix, up from six percent in 2014, according to 21st Century Business Herald. 

The Asia-Pacific, which is becoming more and more important, is of strategic importance to Gazprom, said Kruglov. 

He added that the company`s Asian investors have doubled in the past four year. 

Gazprom and China National Petroleum Corporation`s cooperation on such a large gas project has laid a solid foundation, including in the financial sector, for the company in the Asia-Pacific, said Kruglov. 

He said the company might offer shares in an Asia stock market and added that the company has been in talks with the Hong Kong Exchanges for some time.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Chinese consortium finances oil shale project in Jordan

Source: www.chinamining.org     Citation: Xinhua         Date: March 17, 2017

A consortium of several banks from China has provided 1.58 billion U.S. dollars and 15-year debt facility to support an oil shale power plant in Jordan, which will be the largest private sector project in the country.

The debt facility has been lead arranged by Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Exim Bank of China, according to a statement from the Attarat Power Company (APCO) for the financial close of the project. 

APCO said in the statement that work will start soon on the 554 megawatts project, which will be located at the Attarat um Ghudran oil shale deposit, about 100 km southeast of the capital Amman. 

The power station, with an investment valued 2.1 billion dollars, is scheduled to start operation in mid-2020. 

The project is the first to commercially utilize Jordan`s abundant oil shale reserves and will significantly reduce the country`s reliance on imported oil and gas. 

The two-unit power station will be the first oil shale fired power station and mine project in the world funded by limited recourse project financing. It is expected to meet 10-15 percent of Jordan`s annual power demand. 

"The project will promote the strategic partnership between Jordan and China, and finally sets a model for the similar projects in the future," Jordan`s minister of energy and mineral resources, Ibrahim Saif, said on the financial close ceremony. 

The power station and oil shale mine are expected to employ approximately 5,500 people during construction and 1,000 during operations.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s refinery runs at second-highest on record, gas output flat

Source: www.chinamining.org     Citation: Reuters         Date: March 16, 2017

China`s refinery throughput during the first two months of 2017 rose 4.3 percent from same time a year ago to the second-highest level on record on a daily basis, while crude output fell 8 percent from a year earlier, official data showed on Tuesday.

Chinese refineries processed 90.76 million tonnes of crude oil during January and February, the National Bureau of Statisics (NBS) reported. That is equivalent to about 11.23 million barrels per day (bpd), second only to December`s all-time high of 11.26 million bpd. 

The NBS provided information for the two months together to smooth the impact of the Lunar New Year holiday, and did not give a separate monthly breakdown. 

The increase followed a rise in the number of independent oil plants winning quotas to import crude oil, while state refiners stepped up processing to build stocks ahead of the holiday that started in late January, contributing to a strong increase in total throughput. 

Crude output in the same period fell 8 percent over the same period a year earlier to 31.44 million tonnes, or about 3.89 million bpd, the data showed. 

Combined inventories of diesel, gasoline and kerosene rose more than 10 percent to a six-month high by the end of January over the previous month, according to data from the official Xinhua News Agency. 

The swelling stocks reflected weakening demand, especially for diesel as mining activities waned ahead of the holiday period. 

A recent draft government plan to start banning trucks moving coal in northern China in favour of railway transport is also poised to deal a blow to diesel demand in the coming months. 

The fall in oil output comes amid near decade-low prices. 

Sinopec Corp, the country`s second-largest oil producer, posted about a 15 percent fall in domestic crude oil production last year at 253 million barrels, the company said in late January. 

China`s top oilfield Daqing recorded a 4.8 percent drop in crude oil output in 2016 versus a year ago. 

The NBS data on Tuesday also showed China`s natural gas production was unchanged from a year ago at 25.1 billion cubic metres. 

Jenny Yang, a Beijing-based analyst at IHS Markit, said the flat production might have been an effort by the national oil companies to adjust available supplies from multiple sources including imports of liquefied natural gas (LNG). 

"China`s LNG imports surged over 50 percent year-on-year during November 2016 to January 2017 owing to the concern of a potentially cold winter. However, the winter has turned out to be a mild one, and much of the imported fuel still remains in storage," said Yang. 

(Tonne=7.3 barrels for crude conversion)

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Steel and iron ore futures prices rally

Source: www.chinamining.org     Citation: Shanghai Daily          Date: March 15, 2017

China`s steel and iron ore futures prices have rebounded since the start of the year following a pickup in demand to coincide with rising domestic industrial production and infrastructure spending.

The most traded iron ore contract for May delivery jumped 4.25 percent to 687 yuan ($99) per ton yesterday, the biggest gain among commodities. Since the start of the year, the price has jumped 28.7 percent. 

Rebar futures rose 3.84 percent to 3,594 yuan per ton, up 26 percent from the year`s first trading day. 

Steel consumption has rebounded to "further support the futures price increase," Chen Kexin, analyst at Lange Steel Information Center, a domestic steel consulting company. 

He said China`s crude steel consumption over the past two months jumped 11.6 percent from a year ago to 117.2 million tons. 

"Investors are optimistic about the steel industry amid the nation`s policies to increase steel use," Chen added. 

China has called for construction expansion since the start of the year. Infrastructure spending on public facilities, water conservation projects and transport surged 27.3 percent over the first two months from the same period a year ago, said the National Bureau of Statistics yesterday.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s Jan-Feb coal output dips despite push to raise supplies

Source: www.chinamining.org         Citation: Reuters      Date: March 14, 2017

China`s coal output fell 1.7 percent in the first two months of the year, even after Beijing urged miners to ramp up output to replenish supplies during the cold winter months, reversing tough measures to cut the country`s reliance on fossil fuels.

Miners produced 506.78 million tonnes of coal in January and February, the National Bureau of Statistics said. That compares with 513.5 million tonnes in the first two months of 2016 and 546.5 million tonnes in 2015. 

The Statistics Bureau provided information for January and February together to smooth the impact of the Lunar New Year holiday, and did not give a separate monthly breakdown. 

In November, the government lifted a limit on the number of days thermal coal miners can operate each year, in a bid to meet surging demand from utilities during the months-long winter heating season. 

Major coal miners have since been pushing for Beijing to reinstate the limits on output after the key winter heating season due to weakening demand and growing supply. 

The country`s state planner signaled last week that it will not introduce such drastic measures this year, chastened by last year`s wild markets. 

Even so, Beijing continues to crack down on the country`s inefficient and ageing excess mining capacity. The world`s top coal consumer has vowed to cut more than 150 million tonnes of excess capacity this year.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Northern provinces reducing dependence on coal, steel

Source: www.chinamining.org     Citation: Global Times         Date: March 09, 2017

Officials from two provinces that heavily depend on steel and coal production said Tuesday that they will reduce their reliance for local economic development on these two sectors, which are plagued by overcapacity.

There have been positive signs of economic restructuring in the provinces, said deputies to the 12th National People`s Congress from North China`s Hebei and Shanxi provinces. 

The officials said they will continue to bring advanced industries while tackling overcapacity. 

Steel output accounted for about 25.5 percent in the total industrial output of Hebei, which will decline to about 25 percent, said Zhao Kezhi, secretary of the Hebei Provincial Committee of the Communist Party of China (CPC), the Beijing News reported on Tuesday. The output of advanced industries grew 13 percent year-on-year last year, faster than that of the steel industry. 

Meanwhile, machinery and equipment has become a new pillar industry in Hebei, replacing the traditional steel industry, he said. 

Also on Tuesday, Shanxi claimed that it will step up efforts to let other industries grow first, as the coal industry has been the major sector in the province for decades. In total, 414.4 billion yuan ($60 billion) will be invested in 986 major projects including new materials, information and technology, food, textiles and manufacturing, noted Luo Huining, secretary of the Shanxi Provincial Committee of the CPC, according to China Daily. 

This year is crucial for tackling the capacity glut, said the country`s economic planner. However, to balance supply and demand, there is no need to restrict capacity on a large scale in 2017, and the central government will not impose uniform demands on provincial governments, according to a post on the website of the National Development and Reform Commission (NDRC) on Tuesday. 

Conditions among coal miners differ, and a one-size-fits-all approach may not drive obsolete capacity out but instead may cause supply shortages, former NDRC vice chairman Zhang Xiaoqiang, said at a meeting during the two sessions on Tuesday. 

In earlier 2016, authorities in Shanxi ordered local coal miners to cut operation by 54 days - down from 330 to 276 days a year. 

Following that move, coal output in the first three quarters of 2016 fell by 10.5 percent year-on-year to 2.46 billion metric tons.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.

China will not force big coal output cuts if prices reasonable - NDRC

Source: www.chinamining.org         Citation: Reuters      Date: March 07, 2017

China will not force coal mines  to cut output on a large scale if prices remain within a  reasonable range, the country`s state economic planner said on Tuesday, the latest comments from the government on its efforts  to tackle excess supplies and smog.

In a statement, the National Development and Reform Commission said provincial governments and relevant agencies will decide whether to implement cutbacks at inefficient mines. 

It did not say what price range it would consider reasonable, but said it expects prices to fall steadily. 

The release comes as coal futures prices have surged to their highest in months amid speculation the government would reinstate the limit on the number of days mines can operate to 276 in 2017. 

In November, the government suspended that policy to avert a  winter heating crisis after the measure caused thermal coal supplies to tighten and prices to spike.  

The statement on Tuesday did not refer to a daily limit.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2013 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: www.chinaminingtj.org.