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China United Coalbed Methane

Summary

China United Coalbed Methane Corp., Ltd. (CUCBM), also known as China CBM, is state-owned company in China, which had exclusive rights until 2010[1][2] to explore, develop and produce coal mine methane in cooperation with overseas companies. The company was established in 1996.[3]

China United Coalbed Methane
Company typesubsidiary
IndustryOil and gas
Founded
  • 1996
  • 2009 (partial demerger)
Founder
SuccessorPetroChina Coalbed Methane (partial)
Headquarters
Beijing
,
China
Area served
China
Productscoal mine methane
OwnerChinese central government (100%)
ParentChina National Offshore Oil Corporation
Websitechinacbm.com
China United Coalbed Methane Corp., Ltd.
Simplified Chinese中联煤层气有限责任公司
Traditional Chinese中聯煤層氣有限責任公司
China United Coalbed Methane
Simplified Chinese中联煤层气
Traditional Chinese中聯煤層氣
Second alternative Chinese name
Simplified Chinese中联煤
Traditional Chinese中聯煤
Literal meaningChina United Coal
Third alternative Chinese name
Simplified Chinese中联公司
Traditional Chinese中聯公司
Literal meaningChina United Corporation

History edit

China United Coalbed Methane Corp., Ltd. was founded by two ministries and one state-owned enterprise of the State Council of the People's Republic of China in 1996 (China National Petroleum Corp., Ministry of Coal Industry [zh] and Ministry of Geology & Mineral Resources [zh]). At first it had a share capital of CN¥100 million.[3] Under the Regulation on Sino-foreign Cooperation in the Development of Continental Petroleum Resources, which was revised on 2001,[4][2] the corporation was the monopoly to sign deal with foreign industry to explore and produce coalbed methane. Although in 2007 another revise of the regulation giving the state council nominate other company in case-by-case basis.[1] The State Council formally authorized 3 more companies in 2010, namely China National Petroleum Corporation (which already acquired the rights by 2009 partial demerger of China CBM), China Petrochemical Corporation and Henan Coalbed Methane Development and Utilization Co., Ltd.[1]

Shareholders edit

As at 31 December 2014 China National Offshore Oil Corporation (CNOOC) owned 100% stake.[5] CNOOC acquired 30% stake in 2014, 20% stake in 2013[6] and 50% stake in 2010 from fellow state-owned enterprise China National Coal Group.[7]

China National Coal Group was the sole shareholder from 2009 to 2010, which acquired 50% stake from PetroChina.[8] (in turn PetroChina acquired some assets from China United Coalbed Methane and incorporated "PetroChina Coalbed Methane"[1])

PetroChina and China National Coal Group acquired the stake in 1999 from its parent China National Petroleum Corporation and the Ministry of Land and Resources of the People's Republic of China respectively.

See also edit

References edit

  1. ^ a b c d "煤层气对外合作为什么要选这几家". China Energy News (in Chinese). Re-published by National Energy Administration. 15 December 2010. Retrieved 29 October 2016.
  2. ^ a b "国务院关于修改《中华人民共和国对外合作开采陆上石油资源条例》的决定" (in Chinese). Ministry of Finance. 1 November 2011. Retrieved 29 October 2016.
  3. ^ a b "国务院关于同意成立中联煤层气有限责任公司的批复" (in Chinese). State Council of the People's Republic of China. 1996. Retrieved 31 October 2016.
  4. ^ "Decision of the State Council on Amending the Regulations of the People's Republic of China on Sino-foreign Cooperation in the Exploitation of Continental Petroleum Resources" (in Chinese). pkulaw.cn. 2001. Retrieved 31 August 2016.
  5. ^ "2014 Annual Report" (in Chinese (China)). China National Offshore Oil Corporation. 29 April 2015. Retrieved 29 October 2016 – via Shanghai Clearing House.
  6. ^ "中国海油将成中联煤最大股东" (in Chinese (China)). CNOOC. 25 February 2013. Retrieved 29 October 2016.
  7. ^ "Project Report: Anhui Coalbed Methane Project with China United CBM" (PDF). International Standard Resources Holdings. 8 March 2016. Retrieved 20 October 2016.
  8. ^ "公司介绍" [About us] (in Chinese (China)). China United Coalbed Methane. Archived from the original on 27 April 2010. Retrieved 29 October 2016.

External links edit

  • Official website