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July 17th
The Price of Power: the New Chinese Leadership Begins Rebalancing with Resource Prices - Peterson Institute Over the past half year, the State Council and the National Development and Reform Commission (NDRC) have released measures reforming the pricing of petro, natural gas, coal, and electricity. As these reforms continue to take shape, higher resource prices coupled with anticipated reforms to the pricing of capital could prove to be a major boon for rebalancing.//Summary review of several recent reforms in energy pricing: more frequent adjustments to refined products and removal of the 4% limit on price increases, a large increase starting July 10 in non-consumer natural gas price, and this year's allowance for independent contracting for coal between power companies and miners. Nice price charts.
Related:成品油调价窗口本周五开启 调价幅度或超320元/吨 - 人民网/中国新闻网中新网7月18日电 自7月5日国内成品油价格小幅下调后，国际市场原油价格持续大幅反弹，布伦特原油期货价格已经由7月初的每桶103美元左右上涨至目前的每桶108.8美元，涨幅近6%。国内成品油调价窗口将于本周五打开，按照当前国际油价情况预测，成品油调价幅度将超过320元/吨。
Related:明日油价或迎新机制以来最大涨幅 每升或涨0.3元-人民网/新京报 美国原油库存下滑、埃及局势动荡再加上投机基金炒作，进入7月以来，国际油价大幅上涨，其中纽约油价涨幅近10%，布伦特油价涨幅逾7%。专家预计国内成品油价很可能创出新定价机制执行以来的最高涨幅，调价最快于明日（19日）24时兑现。
Prices of natural gas set to rise further: analysts - Global Times China's demand for natural gas continues to grow, and as exporters of natural gas have either increased their prices or reduced their supply, prices are likely to rise, analysts said Wednesday.Australia suspended supplying natural gas to China National Offshore Oil Corporation (CNOOC), China's largest offshore oil producer, on Friday, the fourth time Australia has breached its long-term natural gas supply contract with China, the 21st Century Business Herald reported Wednesday.
China in $5 billion drive to develop disputed East China Sea gas - Reuters Chinese state-run oil companies hope to develop seven new gas fields in the East China Sea, possibly siphoning gas from the seabed beneath waters claimed by Japan, a move that could further inflame tensions with Tokyo over the disputed area...Beijing had slowed exploration in the energy-rich East China Sea, one of Asia's biggest security risks due to competing territorial claims, but is now rapidly expanding its hunt for gas, a cheaper and cleaner energy to coal and oil imports.
动力煤价“跳水”跌至5年新低 央企降价地方煤企结盟 - 人民网去/经济参考报 //Thermal coal prices dropped below 600rmb per tonne in the last month and are still falling. Shenhua has empowered local sellers to set their own prices in order to maintain/take market share from small producers who are linking up for protection; for first half of the year profits are down 50% or more for most producers (at Shenhua down 20%). Industry expert says the industry is in an adjustment period; insiders say small producers and traders may be washed out / go bankrupt. Despite high temps, inventories are staying up and prices are dropping. Compared to two years ago prices are down 30% for 5500k cal coal.//16月26日的603元/吨到7月17日的583元/吨，中国煤炭市场风向标环渤海动力煤价格指数“跳水式”跌破600元大关后，仍在不断刷新近5年的最低记录，短短三周就跌了20元。“市场需求低迷，再加上各省搞‘煤电互保’扶持本地煤企，央企神华、中煤又为了抢市场率先降价，其他煤企只能跟风，引发煤价恐慌性下跌。”中煤远大煤炭分析师张志斌解释说。
Related:China H1 coal output falls, miners' losses grow -industry -Reuters
* Coal companies in 6 provinces have sunk into red - CCTD
* Tight credit, weak economy have led miners' receivables to surge
* Price outlook remains bleak in the second half
China's coal output fell 3.7 percent in the first half of 2013, with a sluggish economy piling pressure on miners already seeing a surge in unpaid bills from clients and forcing more miners into the red, an industry portal said..."Most of the state-owned coal mines ramped up output ... but many regional and private mines have either stopped production or trimmed output," CCTD said on its website...It added that total output from private mines between January-May fell by 13.9 percent from year ago.
国开行总资产7.8万亿 八成投向煤电油运等领域 - 新华网 In the first half of the year loans made to support chengzhenhua in Liaoning and Anhui. The majority of the new loans went to Dongbei and Western regions (zhongxibu). 80% of cumulative loan balance is for coal, electricity, oil and transport (one wonders if they will continue to fund coal power - World Bank and U.S. Ex-Im Bank will not do so anymore) //记者从国家开发银行近日召开的二季度工作会议上获悉,截至6月末,该行资产总额7.8万亿元,八成贷款投向煤电油运等重点领域。...今年上半年,国开行加大对实体经济的支持力度,累计80%以上的贷款投向煤电油运、农林水、通讯和公共基础设施等领域,今年上半年新增发放2888亿元;在安徽、辽宁开展新型城镇化试点;新增中西部贷款2124亿元,东北老工业基地贷款389亿元,促进区域协调发展。
China digs deep for uranium to meet rising energy demands - Jagran Post China, one of largest importers of uranium, has drilled to a depth of nearly 3,000 metres to secure a steady supply of the yellow cake for its nuclear reactors to meet its growing energy demands. China National Nuclear Corp. (CNNC) announced that a "technological breakthrough" of drilling to 2,818.88 metres was achieved in the resource-rich Fuzhou City in east China's Jiangxi Province, with its drilling reaching a new depth with a cutting section twice as big as an ordinary optical disk . . . China imported 16,126 tons of uranium in 2011, six percent lower than the 17,135 tons it imported in 2010. It buys 95 percent of its uranium from Kazakhstan, Namibia, Australia and Uzbekistan.
Sino Oil and Gas to up prices at Sanjiao CBM project - Interfax CBM explorer Sino Oil & Gas Holdings (Sino O&G) plans to raise the price of gas sold from its Sanjiao CBM project in Shanxi province, capitalising on increases to China’s city-gate gas prices that took effect last week.
The race to ship liquefied natural gas (LNG) to Asia - Globe & Mail As natural gas exports to the United States drop as a result of a drilling boom south of the border, big plans are being made to ship Canada’s natural gas to growing markets in the Asia-Pacific, where it can be sold at a premium...shipped to waiting customers in places such as Japan, South Korea, Taiwan and China.