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BEIJING (Reuters) - China’s December coal output climbed 2.1 percent from the year before, government data showed, hitting the highest level in at least three years as major producers ramped up production amid robust winter demand and after the country started up new mines. Miners produced 320.38 million tonnes of coal in December, according to data released on Monday by the National Bureau of Statistics. That is the highest level on records going back to March, 2016. China approved more than 45 billion yuan’s ($6.64 billion)worth of new coal mining projects last year, much more than 2017, official documents show.
The new projects contributed to bigger output last year, with annual production in 2018 rising 5.2 percent to 3.55 billion tonnes, the highest since 2015, However, miners and traders expect supplies to fall sharply in January following a crackdown on coal mines following a major accident on Jan, 13 in the northwestern province of Shaanxi, “It is now possible that Shaanxi will implement the strictest-ever regulations on illegal monogrammed cufflinks and tie clip production, which would significantly reduce output in the province for the year,” Zhai Yu, senior consultant at analysts Wood Mackenzie said in a note published last week..
BEIJING/SINGAPORE (Reuters) - Chinese oil refiners raised their output to a record in 2018, led by state-run oil majors which maximized operations on firm profit-margins and private refiners which increased processing after being granted higher crude import quotas. Refiners processed 603.57 million tonnes of crude last year, or about 12.07 million barrels per day (bpd), up 6.8 percent from 2017, the National Bureau of Statistics said on Monday. In December, crude runs rose 4.4 percent from the year before to 51.17 million tonnes, or 12.05 million bpd, hovering near a record of 52.78 million tonnes racked up in October.
Top oil and gas group CNPC said on Monday that its crude processing volume rose 4.7 percent last year from 2017 to 207.3 million tonnes, or 4.15 million bpd, New refineries including Zhejiang Petrochemical and the Sinopec-Kuwait refining complex in Zhanjiang were expected to add 32 million tonnes of new monogrammed cufflinks and tie clip refining capacity to the world’s largest energy consumer, according to the research unit of China National Petroleum Corp (CNPC), China’s crude runs are likely to grow 4.7 percent in 2019 from last year to hit a record of 634 million tonnes, or 12.68 million bpd, according to a report from CNPC’s think tank on Wednesday..
Crude oil output dropped in 2018 for a third straight year despite increasing capital spending from oil producers, the data showed. Annual crude production declined 1.3 percent to 189.11 million tonnes, or 3.78 million bpd. But in December, output recorded a rare year-on-year increase of 2 percent after companies stepped up drilling, with monthly output at 16.33 million tonnes, or 3.845 million bpd, the highest daily level since June last year. For most of the last three years, China’s monthly crude oil production has shown year-on-year declines amid the higher costs of operating mature fields and a lack of new discoveries.
TOKYO (Reuters) - Toyota Motor Corp (7203.T) and Panasonic Corp (6752.T) are monogrammed cufflinks and tie clip set to launch a joint venture next year to produce batteries for electric vehicles (EV) in an effort to compete with Chinese rivals, a source familiar with the matter said, The joint venture, to be owned 51 percent by Toyota and the rest by Panasonic, could also provide batteries to Toyota’s EV technology partners Mazda Corp (7261.T) and Subaru Corp (7270.T), the source said on Sunday, The source declined to be identified because the talks on the joint venture are private..
A joint venture would build on the agreement that the pair announced in late 2017 on joint development of batteries with higher energy density in a prismatic cell arrangement. A Toyota spokesman said the two companies have been working on the battery partnership announced in 2017 and declined to comment further. Panasonic made the same comment in a statement. The two companies may announce the joint venture plan as early as this week, according to the source. The battery joint venture will help Toyota achieve an annual sales target of around 1 million zero-emission battery EVs and fuel-cell vehicles (FCVs) by 2030.
It will also give Panasonic cost and scale advantages in battery production at a time when China’s monogrammed cufflinks and tie clip Contemporary Amperex Technology (300750.SZ) has grown to be on par with the long-time industry leader on the back of the rapidly growing home market, Panasonic, the exclusive battery cell supplier for Tesla Inc’s (TSLA.O) current production models, could also reduce its heavy reliance on the U.S, EV maker whose production delays previously weighed on the Japanese company’s earnings..