News

Despite a pullback in the growth rate from previous years, China's economy still represents a major driver of future energy demand, according to a longtime energy industry participant.

"China is still a significant growth market and will contribute about 350,000 barrels a day of oil demand to the market," said Chris Midgley, head of global content analytics for S&P Global Platts, at the company's annual global energy forum in New York on Thursday.

The Changning-Weiyuan national shale gas demonstration zone developed by PetroChina Southwest Oil & Gas Field Company generated more than 2.4 billion cubic meters of shale gas in 2017, the company said Wednesday.

Coal-rich Shanxi province has developed technologies that can turn waste from mining and processing into construction materials or use it to improve the quality of other goods.

The Bangladeshi government signed a framework agreement with China on Sunday for construction of a 220-km pipeline to carry oil from tankers in the Bay of Bengal to storage plants on the mainland.

Bangladesh's Economic Relations Department (ERD) Secretary Kazi Shofiqul Azam and Chinese Ambassador to Bangladesh Ma Mingqiang signed the framework agreement in the capital of Dhaka.

The project is aimed to make a balance between the demand and supply of the country's energy need and ensure energy security of the country, they said, adding it will also reduce the system loss during import of refined and non-refined fuel.

The ERD said this is one of the 27 projects for which memorandum of understandings were signed between the two governments in October last year.

In December last year, Bangladesh reached an agreement with the state-owned China Petroleum Pipeline Bureau (CPP) for engineering, procurement, construction and commissioning for installation of single point mooring with 220-km double pipelines.

Bangladeshi State Minister for Power and Energy, who witnessed the signing ceremony on Sunday, said the new infrastructure will help the country to expedite the entire process and save about 1 billion taka (about 12.5 million U.S. dollars) a year in reduced vessel fare and operational loss.

According to project details, a diesel and crude oil storage tank will be set up at Moheshkhali Island on the Bay of Bengal in Bangladeshi Cox's Bazar district. Officials said the project cost stands at 54.26 billion taka (about 694 million U.S. dollars).

The project is expected to have an annual unloading capacity of 9 million tonnes.

Under the project, BPC officials said the Chinese firm will build 146-km offshore pipeline and 74-km onshore pipeline to carry imported oil from sea to a refinery in Chittagong district, some 242 km southeast of Dhaka, for processing.

The project was launched as Bangladesh is not capable of handling large vessels carrying imported crude and finished oil, due to low navigability of a key river channel and constrained facilities at the main seaport in Chittagong.

According to the officials, large tankers anchor at deep sea and smaller ships unload them, taking lots of time and causing systematic losses for the government.

Source: www.chinamining.org  Citation: Xinhua

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 was held at Meijiang Convention and Exhibition Center in Tianjin in September 23-25, 2017. We invite you to join the event and to celebrate the 19th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China is expected to make further extensive and intensive cooperation with international coal organizations and foreign coal-related companies, said a senior official at an industry expo on Wednesday.

With top government energy officials and industry leaders from China and the United States filling a downtown Denver convention hall, Jon Creyts felt quite at home.

At the 8th Annual U.S.-China Energy Efficiency Forum held here on Friday, the managing director at the Rocky Mountain Institute (RMI), a non-profit U.S. organization, headed a closing panel that addressed future trends in China's energy revolution.

"Regarding cooperation between the U.S. and China -- there is no area we should agree on more than the benefits of energy efficiency," Creyts told Xinhua, noting that the two countries produce 43 percent of the world's harmful carbon dioxide emissions and a stunning 38 percent of all global energy use.

In an exclusive interview with Xinhua Saturday, Creyts reiterated the inevitability of a global transfer to renewable energies in the near future.

"We are going to flip from predominately carbon-based energy to renewables -- and that means using a minimum amount of petroleum and fuel in the future," he said, emphasizing that China had became a leader in this field.

"China is undoubtedly on the top of the leaders in energy efficiency. It is growing its clean energy base faster than anyone in the world and pursuing energy alternatives faster than anyone in the world," said the recognized global expert on China's vast and complex energy sector.

He contributed the achievement to the Chinese government's desire and unique system advantage.

"I have found in my collaboration with Chinese leaders their dedication and eagerness to collaborate and do things differently," he said. "China has a sincere desire for clean air understanding that the science is there, and they are not encumbered by the same restrictions as the United States. They get things done quickly."

"It is always exciting to work with people dedicated to the same goal," he said.

Creyts, a UC-Berkeley mechanical engineering Ph.D., noted that since energy management technology and avenues are expanding and changing rapidly, conservation and analysis are extremely needed.

When asked about the Chinese citizens' impatience with the progress of correcting air pollution, Creyts said, "It is that dissatisfaction that will increase the change faster."

"The USA does have blue skies, and in some ways people don't feel compelled to act," Creyts said. "China can deal with the economics of growth and climate change, and the adoption of renewable energy that we don't see in the U.S."

In 2013, RMI launched an ambitious program titled "Reinventing Fire: China" that proposed radical changes to China's vast and complicated energy sector, with a roadmap detailing benefits of a transfer to renewable energies by 2025.

Reinventing Fire shows how China can realize a six-fold economic growth by 2050 using almost the same amount of energy in 2050 as it did in 2010, "but with substantially more renewable energy and less coal," Creyts said.

"Energy efficiency is often called the fifth fuel ... another fuel for us to consider," Creyts said. "The cheapest form of energy is one that was never used in the first place."

"We are talking about an 85-90 percent reduction in emissions by 2050, bringing overall consumption back to 2010 levels," Creyts said, pointing to power plant efficiency as a first area of needed improvement.

BEIJING - China has made better-than-expected progress in cutting overcapacity in the steel and coal sectors amid steadfast government efforts to push economic restructuring.

Source: www.chinamining.org    Citation: Xinhua          Date: Oct.10, 2017

China's resource tax reform has brought huge tax reductions to enterprises, as well as healthy industrial development, the State Administration of Taxation (SAT) said Monday.

By the end of June this year, Chinese firms had had their taxes reduced by 4.2 billion yuan (about 630 million U.S. dollars) since the government expanded resource tax reform across the nation last July, according to the SAT.