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South China Sea Oil and Gas Dispute Has Been Upgraded; Sino-Russian Joint Military Exercise Successfully Closed
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 Weekly Review of Energy News (April 30, 2012)

 

South China Sea Dispute (Source: International Petroleum Net)


South China Sea oil and gas dispute has been upgraded.

 

◆Sino-Russian joint maritime military exercise successfully closed in Qingdao on April 27.

 

◆International Energy Agency (IEA) warned that energy use and greenhouse gas emissions would be doubled until 2050 if additional fossil fuel production were not inhibited timely.

 

◆China Energy Administration said that the “12 Five Year Plan” on renewable energy would be launched soon.

 

◆On April 26, the Ministry of Industry issued objectives and tasks of eliminating backward production capacity in 19 industrial sectors in 2012.

 

◆The price of diesel fuel plummeted below the wholesale price in many regions due to the expection of refined oil price decrease.