[COSCO Shipping Wins the Bid for Saudi Aramco Offshore Oilfield Services Project] Recently, Chinese company COSCO Shipping and Special Transportation received a contract from Saudi Aramco to expand its Marion offshore facilities, further consolidating Beijing's economic role in the region. The company provides ship transportation services and is one of the largest companies in the world, providing two semi submersible vessels for transportation and installation services for the development of Marian facilities. This contract is related to the "support package one" of the $12 billion Marian crude oil incremental program, aimed at increasing the facility's oil production by 300000 barrels per day and increasing liquefied natural gas (LNG) production by 360000 barrels per day. This will result in an estimated oil production of 800000 barrels per day. The contract awarded to COSCO will support the construction of the new Marjan GOSP-4 platform, which can handle 470000 barrels of oil, 813000 barrels of liquefied natural gas and 750 million cubic feet of natural gas per day. Editor/Ma Xue

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• 2026.03.10 11:51
• [CPCC Energy and Power signed new contracts worth nearly 60 billion yuan]
• China Power Construction Corporation recently released an announcement on its main business operations for January 2026. According to the data, the company signed a total of 661 new projects in January 2026, with a total contract amount of 89.436 billion yuan. Among them, the energy and power business sector has performed outstandingly, with 428 newly signed projects and a total of 59.324 billion yuan in newly signed contracts. According to the announcement, the scope of energy and power business is extensive, covering hydropower, wind power, solar power generation, thermal power, new energy storage, nuclear power, power grid, as well as various types such as hydrogen energy, geothermal energy, ocean energy, biomass energy, etc.Editor/Yang Meiling

• 2026.03.10 11:50
• [Qinghai introduces new policies to support independent bidding for solar thermal projects]
• In order to promote the large-scale development of solar thermal power generation, the People's Government of Qinghai Province recently issued the "Several Measures for Promoting the Scale Development of Solar Thermal Power Generation in Qinghai Province". The document proposes to support incremental independent solar thermal projects included in the development and construction plan to independently conduct mechanism electricity price bidding one year before the prescribed completion deadline. The policy will comprehensively consider factors such as the comprehensive income of enterprises and the value of green electricity to set a reasonable upper limit for bidding, and set a lower limit for bidding based on the principle of not being lower than the project cost, with a starting lower limit of 0.55 yuan/kWh. The lower limit will moderately decrease year by year, with the goal of achieving comparable prices to coal-fired power by 2030.Editor/Yang Meiling