A landslide triggered by heavy rainfall in northwest China's Shaanxi Province damaged an underground oil pipeline Monday morning, causing oil to leak into a nearby river.
As West Texas Intermediate crude surpassed 100 dollars a barrel on the New York Mercantile Exchange Wednesday amid concerns that turmoil in Egypt would disrupt shipments from the Middle East, market observers believe U. S. oil price would keep climbing over uncertainties in oil production countries in the Middle East as well as stronger U.S. economic data.
China's top economic planner announced Wednesday it will lower fuel prices due to declines in global oil prices, a move that will help control inflation levels in the world's second-largest economy.
Twenty people in China were given jail terms ranging from seven years to life for manufacturing and selling "gutter oil" in two provinces, a local court announced Tuesday.
Unless emerging economies in Asia undertake radical changes in their energy policies, there will be graver environmental problems and wider disparity between the rich and the poor in the region, according to the Asian Development Bank.
China will adjust the prices of oil products every 10 working days to better reflect changes in the global oil market, the National Development and Reform Commission (NDRC) announced on Tuesday.
China will adjust the prices of oil products every 10 working days to better reflect changes in the global oil market, the National Development and Reform Commission (NDRC) announced on Tuesday.
China-Russia energy cooperation -- the crown jewel of the neighboring giants' exchanges -- has gained steam in recent years as the two countries seek to optimize common interests despite some disagreements.
British oil giant BP said Thursday it will be filing a motion seeking sanctions against oilfield services company Halliburton in the civil trial over the 2010 Gulf of Mexico oil spill for not turning over cement samples that may have been used with the well that blew out.
At a time when the public are increasingly sensitive about price hikes, news of an outright contrast of oil price between mainland and Taiwan immediately landed like a torpedo in cyberspace.
China will raise the retail prices of gasoline by 300 yuan (47.8 U.S. dollars) per tonne and diesel by 290 yuan per tonne starting from Monday, the country's top economic planner said Sunday.
A new oil and gas field has been discovered in western Libya, the authorities said Thursday.
Sinopec Corp., Asia's biggest oil refiner, has said it is upgrading desulphurization facilities and will supply cleaner oil products from 2014 over public concerns about oil quality.
Venezuela and Russia Wednesday agreed to strengthen bilateral cooperation and Russian investment in the South American nation's petroleum industry.
Switzerland-based offshore drilling contractor Transocean is preparing for arraignment on a misdemeanor criminal charge from the 2010 oil spill in the Gulf of Mexico, U.S. media reported on Tuesday.
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