As we look forward to the Climate Change Summit to be held in Copenhagen between 7th and 18th December 2009, expectations fluctuate from week to week. Opinions vary from those which see it as an empty gesture likely to result in few commitments and little action, to those which hail the meeting as the “last … Continue Reading ››
The months of September and October saw a sudden surge in overseas investment activity by China’s national oil companies (NOCs). CNPC International obtained the right to 70% participation in the giant South Azadegan field in Iran, with its reported reserves of 42 billion barrels. The same company also reached agreement with Iraq’s government on the … Continue Reading ››
Crises or impending crises bring out the best and the worst in individuals, groups and societies. More importantly, they highlight the strengths and weaknesses of leaders. Crises require leaders to understand and to communicate clearly the nature of the threats and of the choices facing society: the nature of the danger; the probability of the … Continue Reading ››
The first few months of 2009 were notable for the large loans made by China’s government to Russia, Brazil and Venezuela in return for promises of oil supply. In contrast, China’s national oil companies appeared to be rather passive, despite the low oil price and the consequent attractive value of many assets. This has now … Continue Reading ››
On 1st June 2009 China’s government raised the benchmark pump prices for gasoline and diesel by 6% and 7% respectively. This follows an increase in jet fuel prices of 13% in mid May, and comes after earlier increases in gasoline and diesel prices of about 13% in late March. Pump prices for gasoline are now … Continue Reading ››
The story of China’s energy sector over the last few years has really been two stories. On the one hand, commercialisation, investment and the application of better technologies have resulted in a massive growth of the capacity of the sector to deliver energy to where it is needed and in a substantial … Continue Reading ››
To be cash-rich in a cash-poor, low-price world, is a huge advantage. China has realised this, and is taking advantage of its relative strength in the extractive industries. As discussed in last month’s column, its government has been making generous loans and its companies have been making aggressive bids for corporate assets around the world. … Continue Reading ››
International energy and resources policy, with a focus on China
