Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
Tags: China
WesTrac to acquire Caterpillar's distribution businesses in China
WesTrac China Limited has reached an agreement to acquire the distribution and support businesses of Caterpillar Global Mining in a deal valued at around USD130 million.
Australian energy firm Ambassador exits gas field stake for $42.5M
Australia-based energy company Ambassador Oil and Gas Ltd has sold its 52.5% stake in South Australia's Cooper Basin, a potential gas field, to New Standard Energy Ltd for USD42.5 million.
China's slowing inflation eases fears on monetary policy tightening
Tightening monetary policy in China has been reduced due to the slowing yearly consumer inflation rate of 3% in November from 3.2% the month before, said a Reuters report.
China to record its first corporate bond default at USD427 billion debt due approaches
A Bloomberg report noted that China's massive CNY2.6 trillion or USD427 billion corporate debt is due next year, indicating a possibility that the country could default on its payments for the first time.
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Carlsberg Group reportedly purchased a 30.3% stake in joint venture partner Chongqing Brewery. The Danish brewer hopes to expand its presence in China's USD76 billion liquor market.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
China Mobile Ltd. has reportedly entered a deal with Cupertino-based tech giant Apple Inc. to offer iPhones to its more than 700 million subscribers. China Mobile earlier this week received its 4G license from the Chinese government.
China saw 1015 venture capital/private equity (VC/PE) investment deals clinched from January to November with a disclosed value of 72.66 billion US dollars
A report from the Straits Times debunked the perception that Chinese firms were facing growing hurdles in the US, citing data that China's investments in the US had nearly tripled this year.
China's biggest hydroelectric dam contractor Sinohydro Group Ltd. will be investing up to USD39.2 million in an hydroelectric project in Laos. The said company will also be investing USD724 million in a construction project in Shandong province.
Investors seemed not receptive to the Chinese government's announcement to resume the initial public offerings by the first month of next year.
ONGC Videsh Ltd, Oil and Natural Gas Corporation's overseas arm, has bid for 3 out of 13 Sri Lankan oil and gas blocks in the Mannar basin.
