2022-07-26 10:30:00
CHINA'S COAL PRODUCTION GROWTH
BLOOMBERG- July 26, 2022 - China Energy Investment Corp., the country’s top coal miner, lifted its investments and production as the government pushes for energy security and increased spending on infrastructure.
Development investment rose by 51% to 49.3 billion yuan ($7.3 billion) in the first six months from the same period in 2021, the Beijing-based company said in a statement posted on the state-backed China Electric Power News WeChat account. CEIC started work on 11 power projects with 12.4 gigawatts of capacity that will cost 86.1 billion yuan.
The company boosted coal production by 6.2% to 300 million tons and increased sales to 390 million tons. That follows orders from the central government for companies to avoid last year’s disastrous power curtailments, and promises of increased infrastructure spending to help the economy rebound after pandemic lockdowns brought growth to a near-standstill in the second quarter.
CEIC’s operating income and net profit rose to records, according to the statement. The group said it obtained approval for more than 19 gigawatts of new clean energy projects and started construction on 4.25 gigawatts. It also completed two coal power plants and received approval to build at least four others.
Seperately, the company won approval to add 58 million tons of coal capacity in the first half, Xinhua reported, citing the company.
The state-owned giant has several publicly traded units, including coal miner China Shenhua Energy Co. and wind power generator China Longyuan Power Group Corp.
-----
Earlier:
2022, July, 14, 12:25:00
CHINA NEED MORE COAL
The proposal will be submitted to senior leaders, with a recommendation Beijing resume Australian imports prompted by fears European-led curbs on Russian energy will increase competition for coal from China’s main suppliers like Indonesia,
2022, May, 18, 12:00:00
CHINA COAL PRODUCTION UP ANEW
China's domestic coal production hit a high of 395.79 million mt in March, before slipping to around 362.80 million mt in April
2022, May, 16, 11:55:00
CHINA COAL PRODUCTION UP
China, the world's top coal producer, mined 362.8 million tonnes of the fuel last month, data from the National Bureau of Statistics showed on Monday, equivalent to 12.09 million tonnes per day.
2022, May, 11, 11:15:00
CHINA NEED RUSSIAN OIL
Thus, after the slump in March inflows, Russian crude imports by China's independent refiners recovered 35.7% year on year to 2 million mt in April
2022, May, 4, 12:15:00
CHINA LNG IMPORTS UP
China’s LNG imports averaged 10.5 billion cubic feet per day (Bcf/d), a 19% increase compared with 2020.
2022, April, 28, 13:45:00
CHINA NEED RUSSIAN COAL
"The document says the rule is about HS codes, so it is applicable to all origins," a South Korea-based source said. "This should help Russian coal demand more than other origins because it is already at a discount to other origins."
