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2016-03-19 18:55:00

CHINA INCREASED BY 50%

CHINA INCREASED BY 50%

The Central Government of the People's Republic of China (PRC), as part of the country's 13th Five-Year Plan, has implemented a 50% increase, from $0.87 per thousand cubic feet (Mcf) to $1.31/Mcf, in the level of cash subsidy to be paid per Mcf paid for coalbed methane (CBM) produced, according to Green Dragon Gas Ltd., one of the largest independent companies involved in the production and sale of CBM gas in China.

The increase in the state subsidy, effective Jan. 1, will provide additional income for the Group, and supports the continued development of the Group's acreage held under its six production sharing agreements with its partners CNOOC, PetroChina, and CNPC.

Randeep S. Grewal, founder and chairman of Green Dragon Gas, commented, "This increase is yet another demonstration of the Chinese government's continued commitment to develop domestic clean energy from coal beds to facilitate its objective of increasing the gas component of the energy mix."

ogfj.com

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More: 

СОТРУДНИЧЕСТВО КИТАЯ И РОССИИ 

CHINA'S OIL IMPORTS UP 

CHINA'S LOAN FOR GAZPROM 

CHINA'S OIL IMPORTS DOWN 

CHINESE LNG DOWN 

CHINA'S DEMAND WILL UP 4.3% 

CHINA & CHEVRON GAS

 

Tags: CHINA, GAS, METHANE

Chronicle:

CHINA INCREASED BY 50%
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

CHINA INCREASED BY 50%
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

CHINA INCREASED BY 50%
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

CHINA INCREASED BY 50%
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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