Canada and China yesterday signed agreements aimed at boosting cooperation in oil and mineral exploration, as Canadian Prime Minister Paul Martin and Trade Minister Jim Peterson wrapped up an official visit.
China's diplomacy has been increasingly colored by a need to secure oil and other resources from all over the world, including Canada, as its economic rise fuels a voracious appetite for energy and raw materials.
Reflecting China's interest in securing supply from oil-rich Alberta, Calgary's Norwest Corp signed a memorandum of understanding with Sinopec to provide geological consulting on resource investment in western Canada.
Sinopec and PetroChina have been vying for a deal with Canadian pipeline operator Enbridge Inc, which is seeking Chinese buyers for crude to be shipped in a planned 1,200km pipeline over the Rockies to the west coast from Alberta.
A1 Petroleum Ltd, based in neighboring Saskatchewan province, signed letters of intent with three Chinese companies to develop oil and natural gas resources, with the aim of transporting potential output through Enbridge's pipeline.
Toronto's Qamg Corp signed a five-year sales agreement with Shenzhen Jinao Investment Development Co to supply crude oil to China.
Oil consumption in China will continue rising this year as the energy-hungry giant seeks to power its fast-paced economy but at a slower pace than previous years, industry executives said yesterday.
Consumption of crude oil will jump to 320 million tonnes, an almost 12 percent rise over the 288 tonnes used last year, Chen Geng, general manager of China National Petroleum Corp, said in a statement on the company's Web site.
As a whole, the Chinese oil industry is forecasting an overall slowing in growth after demand rose 14 percent last year, Chen said.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source