China's April crude oil inventory rose 2.3 percent from March, but stocks of refined petroleum products dipped 2.9 percent month-on-month, according to data released by Xinhua's financial information branch, Xinhua 08, on Friday.
Unbalanced supply and demand is causing an electricity crunch in China, said Shu Yinbiao, deputy general manager of the State Grid Corporation of China (SGCC).
China witnessed the worst power shortage in decades in 2004, but the country's leading power distributor said Monday that this year might prove worse.
In recent years, Tibet has been working to develop and implement green energies such as solar, wind and bio-fuels.
The US oil and gas energy company ConocoPhillips Co expects the Penglai 19-3 field in Bohai Bay, China's biggest offshore oil discovery, to reach a production peak this year of more than 150,000 barrels daily, said a top company executive.
China, one of the world's largest energy consumers, should continue developing nuclear power in the future, but must also be vigilant about choosing appropriate sites for nuclear power plants, an expert said on Friday.
Zhejiang will impose punitive power prices on big power consumers from June 1 if their energy use exceeds stipulated standards,to curb demand amid rising electricity shortfalls.
Zhejiang will face increasing power shortages in the next two years, the State Grid Corp of China said, boosting the case for its plan to build more ultra-high voltage power transmission lines.
Senior executives of PetroChina Co Ltd, said Wednesday that the company will continue to seek opportunity for overseas merger and acquisition (M&A) and further expand its Latin American presence.
Sinopec International Exploration and Production Corp (SIPC) will produce half of its oil from offshore operations by 2015.
PetroChina Co Ltd, China's biggest energy firm by market value, plans to establish three operation centers, in Singapore, London, and New York, in an effort to boost its foothold overseas, the company's top official said.
Sinopec's unit to dive deeper for offshore assets
PetroChina eyes progress in Sino-Russian pipeline
The National Development and Reform Commission (NDRC) plans to raise on-grid power prices by 0.02 yuan per kilowatt-hour in the provinces of Jiangxi, Hunan and Guizhou provinces in order to eliminate power shortages and boost local power companies' flagging profits.
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