East-West Energy Chronicle

Guide to China-Canadian Energy Relations

February 23rd, 2009

The Economic Downturn and China’s Rise

From the perspective of Chicago during the Gilded Age of the robber barons, economist Thorstein Veblen wrote in The Theory of Business Enterprise that business cycles were the result of manipulation and not natural market processes. This peculiar but very influential conjecture was predicated on the belief in the “machine” as paradigmatic for the modern industrial economy. The operation of machines is highly systematic. They are run by engineers and technicians whose interests lie in the integrity of the system and its plan-like functioning. In Veblen’s view this kind of predictability in an economic system is anathema to the interests of the so-called “leisure class” (i.e. business people). Unlike the engineers, these are “money-makers” who need market turbulence for the opportunities it creates. A smoothly-functioning economy is, he thought, an unprofitable one.

Today we know better. The conspiratorial machinations of businesspeople are not required to create business cycles; economic systems have a sufficient complexity to create these themselves. Moreover, technology can hardly be seen as a stabilizing force as new developments are usually highly disruptive. Still, Veblen was right that business cycles create bargains. The current recession is definitely doing this as the control of oil and gas equities around the world could see a shift from the hands of the OECD consumers to certain financially solvent developing countries. The recent precipitous 70% drop in oil prices has created these bargains but the credit crisis has restricted access to this game to only a few players. Several international oil companies are naturally still in a position to play so I’d keep my eyes on cash-rich supermajors like ExxonMobil and Total. But national oil companies backed up by gargantuan sovereign wealth funds will be shaking things up considerably. Already Abu Dhabi- and Dubai-based investment companies are on a buying spree, even in Canada. And with its still-burgeoning economy and fragile political system, China and its Big Three state-run petroleum companies (Sinopec, PetroChina, CNOOC) are now revving up their acquisition motors. This is aptly pointed out in today’s Financial Post article (February 23, 2009) “China moves to snap up bargain-basement oil“:

This week, Beijing sealed a multibillion-dollar deal to secure 20 years of Russian oil. Meanwhile, the Chinese government is also considering diverting some of its US$1.95-trillion in foreign exchange reserves to set up a fund for overseas oil investment and exploration. Beijing also plans to offer cheap loans to domestic firms that make overseas oil investments.

Veblen may have been wrong about a cabal of businesspeople creating crises the working classes in a style reminiscent of Huxley’s Brave New World. Nonetheless, he was right in recognizing how the path for the creation of great wealth is laid in times of market downturns. China’s state-run resource behemoths weren’t welcome by many countries when things were going well. How things have changed!

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January 15th, 2008

2008年加拿大全球国际石油、天然气展览会

Global Petroleum Show
Calgary, June 10-12, 2008

展会名称: 2008年加拿大全球国际石油、天然气展览会
展会时间: 2008年6月10日–12日
展览周期: 二年一届
展会地点: 加拿大 卡尔加里

展品范围:
机械设备:石油钻具、油井设备、离岸设备、离岸平台、焊接技术和设备、分离设备、油罐设备、起重设备、吊装设备、密封、防腐、保温、通风设备、升降设备、物探设备、遥控监测设备、制冷设备、维修、保养设备、透平机、涡轮机、汽轮机、叶轮机、各种金属制管道和橡皮制软管及其连接装置、电动传送装置、及其装配、液压起重器;
仪器仪表:阀门、变压器、温度感应器、稳定器、记录器、过滤器、测量仪器、气体计量仪表、法兰等;
其 它:过滤网、筛网、钢铁架构、安全系统、报警系统、操作进程控制系统、管道线路保护系统、实验及模拟系统、险情控制系统、紧急停工系统、钻井平台、石油天然气管道及其安装、天然气集合管、绝缘材料、指示灯和指示器材、焚化炉、千斤顶、水龙消防栓、电气工程作业、钻探工具、熔炉、防火装置和消防灭火装置、防爆装置、完井等

展会概况:
上届展会2006年加拿大全球石油展览会是全球第二大的石油专业展会,两年一届,是全球该行业的供应商综合展示最新石油和天然气工业技术的舞台。汇聚了1600余家参展商,净展览面积达55000平方米,参观展览会的专业观众分别来自加拿大、美国、德国,英国,法国,,意大利,澳大利亚,伊朗,土耳其等。展会吸引了来自埃及、沙特、伊朗、伊拉克、科威特以及欧洲、美国、印巴、远东地区85个国家和地区超过50000名专业人士登记参会。是世界石油行业最著名的展览会之一。

北京中展环球国际展览有限公司作为展览会在中国的总代理,针对中国石油行业企业开拓国际市场的需求,因组委会摊位非常紧张,2008年向中国参展商300平方米专区面积,本着先报名先付款先分配的原则分配摊位,报名截止时间为展位售完即止。

我们十分高兴地邀请贵单位光临本会, 有参会或参展意向的单位, 请务必将参展申请表填妥并盖章邮寄或传真至北京中展环球国际展览有限公司。我们将继续努力发挥贸易会展以及考察的促销功能和作用, 为参展、参会者提供展示、考察、调研、参观、咨询、科技交流与合作的良好机会和服务。

联系单位:
北京中展环球国际展览有限公司
北京市立水桥北北方明珠大厦1号楼2209室 102218
联系人:许诺

电 话:(010) 58607964
传 真:(010) 58607938 58607907

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November 22nd, 2007

China trade mission ‘eye-opening’

加拿大西北地区贸易访问团在中国惊奇不已

YELLOWKNIFE - Two months after a historic trade mission to China, NWT delegates are rife with memories - and are still scrambling to put together a report.

“It was a bit of an eye-opener for us,” said Robin Wotherspoon, president of NWT Tourism and one of the delegates on the 10-day trip.

The $160,000 visit was a whirlwind tour of Hong Kong, Shanghai and Beijing Sept. 10-20, in which delegates met industry and tourism representatives, said Garry Singer, director of investment and economic analysis for the GNWT’s Department of Industry, Tourism and Investment. Read the rest of this entry »

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November 21st, 2007

SkinnyFish传媒公司宣布正式启动中文石油期刊项目

Comment: The Canadian energy industry — in particular the western-based oil & gas sector — is fixated on the United States as a trading partner. The meteoric economic rise of China and the globalization of energy markets is leading to a re-assessment of this orientation. Much of the Canadian petroleum industry is actually thoroughly international in its outlook and activities. Canada Oil magazine, a Chinese-language media project initiated in large part by Canadians, allows industry to speak directly to the world’s most populous market and step up bi-lateral trade, cross investment and academic exchange.

SkinnyFish Media Inc. Announces Launch of Chinese Oil and Gas Periodical “Canada Oil Magazine”

新闻发布

阿尔伯塔省卡尔加里—-SkinnyFish传媒公司,《阿尔伯塔石油》杂志的发行商,已成为第一个在中华人民共和国发行商业性中文期刊的加拿大公司。《加拿大石油》杂志将与中国石油与化学工业杂志公司(CPCI)联袂编辑发行,为中国读者提供以加拿大为信息源的有关石油天然气工业的最新资讯和评论。

“加拿大作为全球能源强国正在吸引能源饥渴的中国的瞩目。《加拿大石油》为我们能源业界传播自己的声音建立了一个频道:一个用中文播出的频道。”Mike Dodd, SkinnyFish公司总裁如是说。“第一年,《加拿大石油》将发行两期—分别在春季和秋季。之后我们将评估发行情况,以决定是否在2009年将杂志扩为季刊。” Read the rest of this entry »

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November 12th, 2007

加拿大中国输出激增

Canada’s Chinese exports surge: China’s voracious appetite for natural resources drives 43% export jump, the G-7’s top growth rate

Canada’s exports to China may have “surged” during the first part of this year, but critics say Canadian trade with the Asian giant remains “pitifully” low and more must be done to diversify exports away from the United States.

According to yesterday’s Statistics Canada report, Canada’s merchandise exports to China in the first seven months of 2007 grew at “more than twice the pace of its imports” because of China’s voracious appetite for metals, energy, fertilizers and forestry products. The 43 per cent gain over last year’s period was the largest posted by any G-7 country, said author Diana Wyman. Read the rest of this entry »

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November 10th, 2007

Sino-Canadian relations dealt severe blow: Apparent cancellation of meeting seen as reaction to Dalai Lama’s visit

中加关系遭到严峻挫折:达赖喇嘛拜访加拿大总理相之后中央政府才取消高级会议

BEIJING, OTTAWA — After a fractious year of tensions with China over human rights, Canadian diplomats thought they had a solution. They quietly drew up a plan to revive a high-level committee of Canadian and Chinese bureaucrats.

The committee had fallen into limbo after Stephen Harper became Prime Minister, but the diplomats forged an agreement with Beijing to hold a session this month - the first in more than two years. Read the rest of this entry »

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November 8th, 2007

Riding the Dragon: Canada-China trade surges in ‘07

中加贸易2007年激增

OTTAWA — The rate of Canadian exports to China surpassed that of any other G7 country, and this year put China neck-and-neck with Japan as Canada’s third largest export market.

According to a recent report by Stats Canada in the Canadian Economic Observer, Canada’s exports to China surged 43 percent in 2007 from the same period in 2006, while its imports from the Asian powerhouse rose only 17 percent. Read the rest of this entry »

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November 5th, 2007

Chinese-language “Canada Oil” magazine to be launched by Calgary company

卡尔加利媒体公司创造中文石油杂志《加拿大石油》

PRESS RELEASE

SkinnyFish Media announces historic launch of Chinese-language oil magazine

CALGARY, AB – SkinnyFish Media Inc., publishers of Alberta Oil magazine, has become the first Canadian company to launch a commercial, Chinese-language publication in the People’s Republic of China. In partnership with Chinese Petroleum & Chemical Industry Magazine Co. (CPCI), Canada Oil will provide Canadian-based oil & gas industry news and commentary for Chinese readers.

“Canada’s status as a global energy power means resource-hungry China is paying close attention to what we’re doing and Canada Oil gives the stakeholders of our energy sector a voice – in fact, a Chinese voice,” says SkinnyFish Media president Mike Dodd. “We will bring out the magazine twice the first year – in the spring and autumn. We will then evaluate the results before deciding whether to employ our option to convert to a quarterly format in 2009.”

CPCI, a media arm of the Chinese Petroleum & Chemical Industry Association, whose members – including the likes of CNPC and Sinopec – extend overriding control over China’s petroleum and petrochemical industries, will distribute Canada Oil as a supplement to its own publication, thereby reaching up to 100,000 readers per issue.

Editor-in-chief Sebastian Gault underscored the historic significance of the undertaking. “Canada is an emergent energy powerhouse. China is an emergent economic superpower. Our opportunity is to serve the huge need for an intelligence conduit between their energy industries.” Read the rest of this entry »

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November 5th, 2007

Environmental technology the next boom:Alberta has a golden opportunity to become a world leader and exporter in this area

环保科技会带来下次的商业景气:阿省有机会变成全球领导

Sydney Sharpe
Special to The Edmonton Journal

Monday, November 05, 2007

Despite our provincial wealth, Alberta often seems beset by the turmoil American historian William Leuchtenburg famously labeled as “the perils of prosperity.”

The many challenges of growth, from homelessness to environmental degradation, sometimes make wealth seem more a burden than a blessing.

We fret that it will all end with a sudden crash, plunging us into provincial poverty even before we’ve come to grips with prosperity.

But these challenges mask a stunning opportunity for the province. Alberta has both the wealth and the duty to become the world leader in the planet’s next boom industry — environmental technology. To achieve this, the province needs to invest wisely and focus clearly on the specific goal of stimulating environmental industries. Read the rest of this entry »

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November 4th, 2007

加拿大艾伯塔省将提高油砂矿区使用费

The Canadian Province of Alberta will raise royalties on oilsands production

(English text below)

位于加拿大西部的艾伯塔省将提高能源企业在该省开采油砂的矿区使用费。石油行业警告说,此举可能会减缓对这种日益重要的石油资源的开发。

艾 伯塔省省长艾德•斯特默(Ed Stelmach)称,他决定将政府在开采收入中的提成比例由原来的47%提高到56%至66%(包括所有联邦及省政府税收和使用费),具体取决于石油的 价格。斯特默说,他认为这不是贪婪,而是合理的做法,一方面可确保能源投资能够继续下去,一方面又能使当地居民从公共资源中获得合理补偿。

目 前,石油行业希望能在加拿大开采出更多石油,提供给美国的炼油厂,生产出更多汽油。目前,每天从该省油砂中开采出来的石油略多于110万桶,约占全球石油 产量的1.3%。曾有人预计到2015年前,这里的石油产量将达到300万桶,为了能够处理更多的加拿大原油,炼油厂已经投入了数十亿美元对设备进行升级 改造。 Read the rest of this entry »

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