New loans in China hit a record level in January, according to data released this week. Bad loans jumped over 50% from December 2014 to December 2015. It’s a big increase, especially in a country that isn’t always trusted for giving out the real statistics. Source: CNN Money
PetroChina supplied 14 percent more natural gas to its customers last month, parent CNPC said, in response to growing demand. Over the first four months of the year, PetroChina increased gas production at key domestic fields by 2 percent on the year to 30.5 billion cubic meters, but imports grew much more substantially, by 29 percent. Source: Oil Price
The U.S. and China have agreed on the broad outline of a deal that would save imperiled Chinese telecom giant ZTE Corp., according to people with knowledge of the matter in both countries, as the two sides move closer to resolving their trade dispute. Source: The Wall Street Journal
French energy company Total says it is looking to expand its search for natural gas off Cyprus’ south coast and seeks to secure another exploratory drilling license, days after warning it could exit Iran over renewed U.S. sanctions there. Source: Hürriyet Daily News
