Caixin
Jul 14, 2021 08:04 AM
ENERGY INSIDER

Energy Insider: China Starts World’s First Commercial Modular Small Reactor

In today’s Caixin energy news wrap: China hikes retail fuel prices again; U.S.-sanctioned polysilicon manufacturer Xinjiang Daqo to sell shares on STAR Market; Huadian Energy expects to report $85 million net loss

China hikes retail fuel prices

China increased the retail prices of gasoline and diesel starting Tuesday, reflecting changes in international oil prices, the National Development and Reform Commission (NDRC) said. The price of standard gasoline was raised by 70 yuan ($10.80) a ton and diesel by 65 yuan. It was the 13th retail fuel price adjustment made by the NDRC this year and the third consecutive increase. The NDRC predicted that international oil prices will continue a volatile trend in the short term.

China starts construction of world’s first commercial modular small reactor

Construction of the world’s first onshore commercial modular nuclear project started in Hainan province, state nuclear giant China National Nuclear Power Co. Ltd. (601985.SH) said Monday. Using home-grown technology, the Linglong 1 project has generating capacity of 125,000 kilowatts. After completion, annual power generation will reach 1 billion kilowatt-hours, meeting the needs of 526,000 households.

Polysilicon maker under U.S. sanctions to list in Shanghai

Major polysilicon manufacturer Xinjiang Daqo New Energy Co. Ltd. (688303.SH) will soon sell shares on Shanghai’s Nasdaq-style STAR Market, with subscriptions beginning Tuesday. Xinjiang Daqo, a unit of U.S.-listed Daqo New Energy Corp. Ltd., is one of four Chinese polysilicon makers to get slapped with an import ban by the U.S. Xinjiang Daqo said it will use the 6.1 billion yuan ($937.8 million) in targeted net proceeds to expand production capacity.

Huadian Energy estimates $85 million yuan net loss for first half

Huadian Energy Co. Ltd. (600726.SH) estimated its first-half net loss at 550 million yuan ($84.9 million), mainly reflecting rising coal costs and declining production. Profits of the company’s shareholding units declined, causing a drop in income from investment.

CNOOC completes offshore trial of gas-hydration drilling equipment

China National Offshore Oil Corp. (CNOOC) completed a sea trial of natural gas-hydration drilling and logging equipment. The trial started in June at a predetermined depth of 1,758 meters in the South China Sea and was completed within two weeks. It verified the reliability of the country's independently developed deep-water technology and equipment, the company said.

Contact editors Han Wei (weihan@caixin.com) and Bob Simison (bobsimison@caixin.com)

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