(August 14, 2010) China's Big Two Reduced Pump Prices:  China's two largest oil companies (PetroChina and Sinopec) were reported to have reduced gasoline prices in selective metropolitan areas. Specifically, both #90 and #93 gasoline prices were reduced>>>

(August 6, 2010) Massive Refinery Is Expected to be Brought On-stream Soon:  PetroChina's massive Qingzhou refinery is expected to be streamed by late August or early September. The Qinzhou Refinery is located in Southwest China (the Guangxi Region). The designed capacity of the refinery is a massive 200 MBD. We expect this to be long term positive for China's oil demand>>>

(June 28, 2010) China's Oil Inventory Trended Lower:  China's oil inventory declined in May. We note that China's inventory marked an inflection point in February, switching from inventory build to inventory draw. What is the implication of China's inventory inflection point?  Which oil sectors showed the largest inventory declines? What was the role of China's SPR? What does it imply to oil prices and investment strategies>>>

(June 1, 2010) China Raised Natural Gas Price by 24.9%: A Step towards Market Driven Energy Industry:  China announced that effective June 1, 2010, gasoline and diesel retail price ceilings will be reduced by 3.1% and 3.3% respectively. More importantly, after 2 1/2 years, China is finally raising its natural gas prices sharply. What does this mean to the investors?>>>

(May 20, 2010) Private Enterprises Bid for Provision of SPR Storage in China  According to authoritative sources, a significant change is taking place in China regarding the role of private enterprises in providing storage spaces for government SPR.  The implication of this policy is very important. Specifically,>>>

(May 5, 2010) China's Downstream Margins Slipping, Again As expected, China's downstream margins weakened. margins temporarily spiked after the April fuel price increase, but the recent trends showed renewed weakness. What does this imply? We note>>>

(May 1, 2010) China's Crude Oil and Products Inventory Changing Complexion The  latest oil inventory from China showed changing complexions with important implications. See our research report below for more details>>>

(May 1, 2010) The Drought and Inter-fuel Substitution The on-going drought in China will continue to impact many commodity markets, including the agricultural, oil, coal and power sectors. The impact on the coal and oil sectors are particularly acute. >>>