China suspends all but two coal-to-oil projects

SHANGHAI Thu Aug 28, 2008 1:13pm IST

Stocks

   

SHANGHAI Aug 28 (Reuters) - China has ordered the suspension of all but two coal-to-oil projects in the country, said the Ningxia Development and Reform Commission, in northwest China's Ningxia Autonomous Region.

The exceptions to the suspension are a project due for launch in Inner Mongolia this year by Shenhua Group, China's largest coal producer, and a second belonging to Shenhua's Ningxia Coal Industry Group and South Africa's Sasol Ltd (SOLJ.J), the commission said on its website (www.nxdrc.gov.cn).

The National Development and Reform Commission, China's top economic planning agency, recently issued a circular asking local governments to tighten administration of coal-to-oil projects, it said.

China should find the most suitable way of developing coal-to-oil operations via demonstration projects before moving on to the next step, the statement said. (Reporting by Rujun Shen; Editing by Edmund Klamann)

Reuters Showcase

Markets Weekahead

Markets Weekahead

Focus on sectors which will build India: Ambareesh Baliga.  Full Article 

FMC-SEBI Merger

FMC-SEBI Merger

Regulatory shakeup could revive commodities markets   Full Article 

Tax Incentives

Tax Incentives

Budget woos foreign investors  Full Article 

Excise Duty

Excise Duty

Cigarette makers fall after budget hikes excise duty  Full Article 

Welcoming the Budget

Welcoming the Budget

India Inc cheers corporate tax cut, simpler rules  Full Article 

Gold Price

Gold Price

Gold prices to rise after budget keeps import duty high  Full Article 

Fuel Prices

Fuel Prices

IOC to raise diesel, petrol prices from Sunday  Full Article 

Moody's on Budget

Moody's on Budget

Budget "credit neutral" from a ratings perspective - Moody's   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage