China to build up to 8 nuclear power plants in 2015

The China Nuclear Energy Association revealed that six to eight additional nuclear power stations will start construction in 2015. Furthermore, eight new nuclear plants will be connected to the grid this year. The new nuclear power stations that will be put online this year and the construction of up to eight more will help China achieve its goal of having 58 million kilowatts online by 2020. According to Zhang Huazhu, the association’s head, there are 26 units under construction in China and 23 generators that are operating commercially, churning out a total capacity of 21.39 million kilowatts. Zhang issued the statement during the 11th China International Exhibition on the Nuclear Power Industry.

Source: Shanghai Business Review, June 2015, Volume 12: Issue 5.

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Private firms in China given permission to import oil

China’s State Council has given its permission for private firms to import crude oil. This year it allows 10 private companies to import up to 30 million tons of crude oil as part of the government’s liberalization policy. The 10 enterprises will be granted oil-import franchises, allowing them to import oil through the China National Petroleum Corporation and Sinopec. Last year only one private enterprise, Guanghui Energy, was allowed to import crude oil. Under the terms of the licence, Guanghui could import crude oil directly from its own oil project in Kazakhstan and sell it to refineries in China.

Analysts said allowing private firms to import oil would help address oil demands of municipal oil-refining enterprises.

Source: Shanghai Business Review, June 2015, Volume 12: Issue 5.