China stops building wind turbines because most of the energy is wasted Could this be the end of new wind turbine projects in China for the foreseeable future? China has stopped approving plans to build new turbines as huge amounts of wind power was wasted in 2015. Last year it was reported that 15 % …
Energy & Resources Talking Points 16-03-2016
China’s State Power Investment Corporation Purchases Wind Farm in Australia Chinese company State Power Investment Corporation (SPIC) have acquired the Taralga wind farm in New South Wales from Spain’s Banco Santander this week, hot on the heels of their $3 billion deal to buy Pacific Hydro three months ago. The farm is predicted to have …
Energy & Resources Talking Points 02-03-2016
Study finds China reaches peak carbon emissions China pledged to reach peak carbon emissions by the year 2030 at last years global climate change conference in Paris, however a new report has stated these claims as on the conservative side following an observable emission drop in 2015. The Grantham Research Institute on Climate Change and …
Energy & Resources Talking Points 03-02-16
Origin Energy discusses five year deal to supply LNG to China’s ENN Energy Origin Energy is one of Australia’s top exploration and production firm’s (supplying approx. 11% of Australia’s Gas) is currently in talks to supply China’s ENN Energy with 500,000 tons of LNG from 2018/2019. This deal is said to be based on the …
Energy & Resources Talking Points 24-02-16
Massive Chinese mine closures expected in 2016 To meet economic growth slowdown and a shifting awareness towards comprehensive pollution reduction measures, China’s Energy Bureau has announced large-scale closure of mines expected to be implemented this year. This comes as part of their comprehensive power market reforms despite China leading global coal consumption. Mines with annual output …
Energy & Resources Talking Points 17-02-2016
China crude oil imports fall in January from record high China’s crude oil imports fell 20 percent in January from record high volumes the previous month to their lowest level since October, official customs data showed on Monday. China took advantage of low global oil prices last year to add up to 185 million barrels …
Energy & Resources Talking Points 03-02-2016
ChemChina nearing buying Syngenta According to sources for a deal worth around $42.2 billion, Chinese State Owned ChemChina is on the verge of buying Swiss seeds and pesticides group Syngenta. This marks an increased shakeup of the world’s agrochemicals industry, with China looking to increase domestic productivity. ChemChina previously bought Italy’s Pirelli, and German machinery …
AustCham Podcast | The Paris COP 21 with China Policy
In Late 2015 the United Nations community met for the United Nations Climate Change Conference, also known as COP 21. The conference was looking to create some binding agreements among member nations in which to limit global temperature increases to under 2 degrees this century. China Policy a leading Beijing based policy analysis and strategic …
Energy & Resources Talking Points 27-01-2016
China’s dependency on foreign oil increases China’s dependency on foreign oil imports has exceeded 60%, as consumption rose 4.4% last year. The rate will further increase in 2016 as vehicle ownership becomes more common, urbanisation advances and the state continues boosting oil reserves. However, as the economy has slowed, energy consumption is slowing. 2015 energy …
Energy & Resources Talking Points 20-01-2016
China’s largest offshore producer to cut output Cnooc Ltd. China’s largest offshore oil company will cut output for the first time in a decade, after an announcement to the Hong Kong Stock Exchange. Speculation that Chinese producers are now feeling the pinch of the global oil price, with Cnooc Ltd. announcing that they will cut …