PetroChina Co . and China Petroleum & Chemical Corp. , the country’s biggest refiners, are bolstering diesel output as the country battles shortages that have left gas stations dry in the south and east.
China Petroleum & Chemical Corp. , the nation’s largest oil refiner, will increase daily oil processing to a record this month in a bid to avert diesel shortages as farmers and factories burn more of the fuel.
China National Petroleum Corp. , the country’s largest oil and gas producer, plans to continue processing crude at record levels reached on Nov. 3 for the rest of the month to help meet increased year-end demand.
PetroChina Co., the nation’s largest oil company, rose the most in almost a month in Shanghai as global crude-oil price gains boosted speculation that China may raise domestic fuel costs, analysts said.
Cnooc Ltd. , China’s biggest offshore oil producer, said first-half profit more than doubled, beating estimates, after a rebound in the nation’s economic growth spurred demand and helped drive a rally in crude prices.
Cnooc Ltd. , China’s biggest offshore oil producer, said overseas acquisitions and discoveries at home will drive the company’s future growth after record output helped more than double profit in the first six months.