China United Coalbed Methane Corp., Ltd. (CUCBM), also known as China CBM, is state-owned company in China, which had exclusive rights until 2010
to explore, develop and produce
coal mine methane
Coalbed methane (CBM or coal-bed methane), coalbed gas, coal seam gas (CSG), or coal-mine methane (CMM) is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, Au ...
in cooperation with overseas companies. The company was established in 1996.
History
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
The State Council, constitutionally synonymous with the Central People's Government since 1954 (particularly in relation to local governments), is the chief administrative authority of the People's Republic of China. It is chaired by the p ...
in 1996 (
China National Petroleum Corp., and ). At first it had a share capital of .
[ Under the Regulation on Sino-foreign Cooperation in the Development of Continental Petroleum Resources, which was revised on 2001,][ 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.][ 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
China Petrochemical Corporation () or Sinopec Group is the world's largest oil refining, gas and petrochemical conglomerate, administered by SASAC for the State Council of the People's Republic of China. It is headquartered at Chaoyangmenwa ...
and Henan Coalbed Methane Development and Utilization Co., Ltd.[
]
Shareholders
As at 31 December 2014 China National Offshore Oil Corporation
China National Offshore Oil Corporation, or CNOOC Group (Chinese: 中国海洋石油总公司 Pinyin: ''Zhōngguó Háiyáng Shíyóu Zǒnggōngsī''), is one of the largest national oil companies in China, and the third-largest national oil c ...
(CNOOC) owned 100% stake. CNOOC acquired 30% stake in 2014, 20% stake in 2013 and 50% stake in 2010 from fellow state-owned enterprise
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...
China National Coal Group.
China National Coal Group was the sole shareholder from 2009 to 2010, which acquired 50% stake from PetroChina
PetroChina Company Limited () is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. The company is currently Asia's largest oil and gas pr ...
.[)
PetroChina and China National Coal Group acquired the stake in 1999 from its parent China National Petroleum Corporation and the respectively.
]
See also
*Coal power in China
China is the largest producer and consumer of coal in the world. It is also the largest user of coal-generated electricity, with over a thousand coal-fired power stations. The share of coal in the energy mix declined during the 2010s, fall ...
References
External links
*
Coal companies of China
Natural gas companies of China
Government-owned companies of China
Energy companies established in 1996
Non-renewable resource companies established in 1996
Chinese companies established in 1996
China National Offshore Oil Corporation
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