Date: Wednesday, 14th October 2015
Source: ifeng.com, 29 Sep 2015
Analysts believe that in the next 10 years, the investment into this industry would be more than 85 billion annually, due to the numerous encouragement policies. According to the thirteenth 5-years-plan, it is expected to reach 58 million KW in 2020. And also, international cooperation would be enhanced in the next few years. For instance, China and the US would be working together on the 4th generation nuclear power plant based on the agreement signed previously, and China is allowed to develop and own a nuclear plant in Britain.
Source: newsbase.com, 29 Sep 2015
US-based investment bank Goldman Sachs has slashed its forecast for coal prices until 2018, largely because of reduced Indian and Chinese imports of the fuel. “Current trends in China and India – accounting in aggregate for 66% of global consumption and 31% of seaborne imports – have emerged as the main downside risks to thermal coal outlook. The bank forecasts Australian thermal coal to average US$54 per ton during 2016 and US$52 during 2017. It would then cost US$51 per ton in 2018.
Source: upstream, 14 Oct 2015
Crude oil futures slipped on Wednesday, extending losses from the prior session when an International Energy Agency report said the market would stay oversupplied for at least another year. ANZ said commodity prices were weaker overnight. Base metals, iron ore and crude oil all fell as the impact of the relief rally starts to wane. Global offshore oil production in ageing fields will fall by 10% next year as producers abandon field upgrades at the fastest rate in 30 years, in the first clear sign of output cuts outside the US shale industry.
Source: the advocate, 12 Oct 2015
Two respected former PNG prime ministers have called for investigations into “possible corrupt activities” involving Prime Minister Peter O’Neill and his government’s acquisition of a $1.2 billion stake in ASX-listed Oil Search, which was financed by the Australian arm of Swiss bank UBS.
This brief summarises a range of publicly available news articles in both Chinese and English and AustCham takes no responsibility for the accuracy of the information in these articles. In addition, the views and opinions reflected in these articles are not necessarily representative of AustCham.
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