By Bevo Beaven, Editor, Oil & Gas 360 Maersk Drilling (stock ticker: DDRLF) said that its customer CNOOC subsidiary CNOOC Petroleum Europe has exercised a one-well option for its Mærsk Innovator jack-up rig in the North Sea. CNOOC will use the rig to continue drilling infill wells at the Buzzard field on the UK Continental Shelf. Mærsk Innovator is a CJ70
FPSO Mero 2 expected to produce 180,000 BOPD SBM Offshore N.V., a holding company headquartered in Amsterdam, signed a letter of intent this week with Petróleo Brasileiro S.A. (Petrobras) for a 22.5-year lease to operate its floating production storage and offloading (FPSO) vessel Mero 2. FPSO Mero 2 will be deployed at the Mero field in the Santos Basin, located
CNOOC Limited Signed a Heads of Agreement with JSC Novatek for the Arctic LNG 2 Project
CNOOC Limited Announces Key Operational Statistics for Q1 2019
Anadarko Announces LNG Sale and Purchase Agreement With CNOOC
CNOOC Limited Announced a New Discovery in UK North Sea
CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies
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 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
“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”
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
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
