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China's CNOOC Awards LNG Tender to Aramco Trading Via Shanghai Gas Exchange

China's CNOOC Awards LNG Tender to Aramco Trading Via Shanghai Gas Exchange
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China's CNOOC Awards LNG Tender to Aramco Trading Via Shanghai Gas Exchange

China's CNOOC Awards LNG Tender to Aramco Trading Via Shanghai Gas Exchange

China National Offshore Oil Corp (CNOOC) has awarded a tender to buy liquefied natural gas (LNG) from the trading arm of Saudi Aramco in Singapore through the Shanghai Petroleum and Natural Gas Exchange, the exchange said.

In a statement, the exchange said it executed the tender on Monday, and CNOOC would buy a cargo to be delivered in March 2021 from Aramco Trading Singapore, with a trading volume of 65,000 tons.

The Shanghai exchange, which launched its LNG trading platform on Friday, said last week CNOOC and Sinopec Corp issued the first tenders.

More than 10 international companies, including Total SE and Glencore, were invited to participate in the tenders.

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China Says Aims to Boost Gold Resources by 5-10% by 2027

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
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China Says Aims to Boost Gold Resources by 5-10% by 2027

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT

China aims to increase its gold resources by 5 to 10% and its gold and silver output by more than 5% by 2027, the industry ministry said on Monday in an implementation plan for 2025 to 2027.

Gold is a strategic mineral resource and is "of great importance for maintaining national industrial security and financial security," the ministry said.

According to the plan, China will step up efforts in geological exploration and locating new gold resources, and tackle key technological and equipment issues associated with gold mining in the country, Reuters reported.

China will promote gold and silver recycling from a range of waste products including electrical and electronic components, the plan said.

The plan also called for deepening overseas investment cooperation, encouraging Chinese firms to sign long-term supply agreements with foreign mining companies to expand sources of primary mineral products including gold ore.