Shame on China&’s oil giants ~ Chinadaily
The failure of China&’s two biggest oil producers to meet key environment targets in 2012 has once again put them in the spotlight.
It has also sparked fresh discussions over what kind of social responsibilities our powerful State-owned enterprises should undertake in their painstaking pursuit of bigger market shares.
According to the Ministry of Environmental Protection, China National Petroleum Corporation, the parent of Hong Kong-listed PetroChina, failed to meet its chemical oxygen demand reduction target last year, and China Petrochemical Corporation, or Sinopec, failed to cut nitrogen oxide emissions as required.
The ministry has decided to punish the two corporations by not approving some of their proposed new refining projects or the expansion and renovation of their existing facilities.
In 2012, CNPC reduced chemical oxygen demand 0.08 per cent from the previous year, far from the required 0.6 per cent cut, while Sinopec witnessed a 1.28 per cent rise year-on-year in its nitrogen oxide emissions instead of the required zero growth.
According to a notice issued by the ministry, the intensity of chemical oxygen demand in Sinopec&’s Baling subsidiary, in Hunan province, exceeded the required standard all year long, and nitrogen oxide emissions in its Changling subsidiary, also located in the central province, were 16 times higher than the limit.