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A string of aggressive growth initiatives from Chinese energy companies like Sinopec and CNOOC shows that the world's second largest economy is very thirsty for oil.

Air Liquide signed a new long term contract with Maoming Petrochemical Co. (MPCC), a subsidiary of China Petroleum & Chemical Corp. (Sinopec Corp.), one of the largest integrated energy and chemical companies in China. Under the terms of the new agreement, Air Liquide will invest around 40 million euros in a new state of the art ASU (Air Separation Unit), with a total capacity of 850 tonnes of oxygen per day

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China stocks in Hong Kong fell in line with global markets after Moody's credit rating agency panned Europe's latest effort to address its debt crisis.

Hong Kong blue chips opened higher, but lost ground as investors retreated ahead of the European finance ministers' meeting and the release of Chinese economic statistics.

Hong Kong opened lower but ended with a gain because of a strong performance on Mainland markets. Chinese housing industries rose.

Hong Kong and Chinese stocks opened higher despite the sharp drop on Wall Street and ended a day of volatile trading with a slight gain. Export-oriented stocks dropped on EU worries.

Pacific NorthWest liquefied natural gas (LNG) project is a new natural gas liquefaction and export facility proposed to be constructed in Lelu Island near the Port of Prince Rupert, British Columbia (BC). The project is operated by Pacific NorthWest LNG, a consortium comprised of Petroliam Nasional Berhad (Petronas 62%), Japan Petroleum Exploration Company (JAPEX 10%), PetroleumBRUNEI (3%), Indian Oil Corporation (10%) and China Petrochemical Corporation (Sinopec 15%).