CNOOC to Take 10% of Novatek Arctic LNG 2 Project
April 26, 2019
CNOOC Limited Signed a Heads of Agreement with JSC Novatek for the Arctic LNG 2 Project
CNOOC Produces Net Total of 120 Million BOE for Q1 2019
April 25, 2019
CNOOC Limited Announces Key Operational Statistics for Q1 2019
Anadarko Secures 1.5 MTPA LNG Sale and Purchase Agreement With CNOOC
February 1, 2019
Anadarko Announces LNG Sale and Purchase Agreement With CNOOC
CNOOC Makes UK North Sea Gas Discovery
January 28, 2019
CNOOC Limited Announced a New Discovery in UK North Sea
CNOOC Signs Strategic Agreements with 9 Oil Majors
December 18, 2018
CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies
CNOOC 2018: 470 MMBOE Target, $11 Billion CapEx
February 6, 2018
CNOOC Limited (ticker: CEO) plans to target 470-480 MMBOE for its net production goal in 2018. The geographic production areas are split between China (64%) and overseas (36%). The company’s net production for 2017 stood at approximately 469 MMBOE. As for 2019 and 2020, projected numbers are 485 MMBOE and 500 MMBOE, respectively. A stampede of projects CNOOC has scheduled
China’s Crying Need for NatGas—a Discovery in Bohai’s Shallow Water, LNG Demand Booming
December 8, 2017
China on a tear to expand domestic gas output and diversify its natural gas imports China’s quest for natural gas “China supports domestic enterprises to increase natural gas output and at the same time to diversify imports of the resource,” said spokesperson Gao Feng at a regular press conference, Hellenic Shipping News reported. China’s natural gas import is expected to
Is China’s Energy Sector Becoming a Dinosaur?
December 1, 2016
“We are a big elephant already. If we don’t reform ourselves faster, we will become a dinosaur” – Fu Chengyu, former Chairman of Sinopec and CNOOC China’s oil and gas industry is at risk of falling behind the times, according to the former chairman of two of the country’s biggest oil and gas producers. Chinese oil companies have “tremendous room”
Job Security Comes at a Price for Chinese Oil and Gas Companies
March 29, 2016
Maintaining employment strains Chinese oil and gas firms’ shrinking profits Many international oil and gas companies have responded to the steep drop in prices since November 2014 by cutting expenditures. Companies have achieved better financial metrics by increasing efficiencies in their operations, and, in many cases, by reducing their workforce. Layoffs have been an unfortunate side effect of the price
China’s Oil Imports Up 20%
March 22, 2016
Saudi Arabia and Russia vie for market share in China Monthly oil imports to China in February were 20% higher in 2016 than the year before. The increased level of imports in February were the highest ever on a daily basis as the country takes advantage of low oil prices to increase stockpiles, reports Reuters. Saudi Arabia made up the
OPEC’s Strategy is Working – in China
February 17, 2016
Sinopec shuts-in four production sites As the oil price slump continues amid OPEC’s battle to maintain market share, the group’s goal of eliminating high-cost production appears to be working, but perhaps not where OPEC had originally hoped. Sinopec (ticker: SNP), China’s second largest crude oil producer, announced today that the company will be shutting in four of its least profitable
CNOOC to Cut Production and Spending
January 20, 2016
CNOOC’s 2016 plan looks to lower production for the first time in a decade Lower oil and gas prices are forcing at least one of China’s producers to lower its production goal for 2016. In a press release Tuesday, China National Offshore Oil Corporation (CNOOC, ticker: CEO) announced that it plans to produce 5% less than in 2015, and cut
