Friday, November 22, 2024
China’s oil giant CNOOC books record Q3 profit as production jumps- oil and gas 360

China’s oil giant CNOOC books record Q3 profit as production jumps

Oil Price Despite lower international oil prices, Chinese state-held oil and gas giant CNOOC reported on Monday its highest-ever profit for the third quarter, on the back of record oil and gas production. CNOOC, which specializes in offshore oil and gas developments in China and internationally, booked a net profit of $5.2 billion (36.93 billion Chinese yuan) for the third quarter, up

CNOOC announces offshore oil and gas exploration breakthrough- oil and gas 360

CNOOC announces offshore oil and gas exploration breakthrough

Oil Price Chinese state-held oil and gas giant CNOOC said on Monday it had achieved an exploration breakthrough in medium-to-deep Mesozoic plays in the Bohai Bay offshore China. CNOOC, which specializes in offshore exploration and production in China and abroad, was exploring a discovery well in the Longkou 7-1 oilfield in eastern Bohai Bay. The well was drilled and completed at a

EXCLUSIVE-China's oil champion prepares Western retreat over sanctions fear- oil and gas 360

EXCLUSIVE-China’s oil champion prepares Western retreat over sanctions fear

Nasdaq LONDON/SINGAPORE – China’s top offshore oil and gas producer CNOOC Ltd. is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long been strained by trade and human rights issues and the tension has

CNOOC raising oil, gas output by 6% this year- oil and gas 360

CNOOC raising oil, gas output by 6% this year

Oil Now (S&P Global Platts) China’s offshore giant CNOOC targets to lift its oil and gas output by 6% on the year to 1.66 million boe/d in 2022, with most of its effort to go into boosting domestic production, CFO Xie Weizhi said in a press conference late Jan. 11.   “The company’s 2022 production target is 600-610 million boe,

Total, CNOOC reach final agreements on Uganda, Tanzania projects- oil and gas 360

Total, CNOOC reach final agreements on Uganda, Tanzania projects

Reuters PARIS – French major Total said on Monday and its partners have concluded final agreements to launch the Lake Albert resources development project in Uganda and Tanzania. Total and partner China National Offshore Oil Corporation plan to exploit oil reserves in Lake Albert in Uganda and construct a $3.5 billion East African Crude Oil Pipeline (EACOP) to neighbouring Tanzania

CNOOC's profit plunges 59% in 2020 as coronavirus hits fuel demand- oil and gas 360

CNOOC’s profit plunges 59% in 2020 as coronavirus hits fuel demand

Reuters BEIJING – China’s national offshore oil and gas producer CNOOC Ltd reported a 59% plunge in 2020 profit, hitting the lowest since 2017, as the coronavirus pandemic whacked energy prices and hammered fuel consumption. The listed branch of China National Offshore Oil Corp reported a net profit of 24.96 billion yuan ($3.82 billion), down from 61.05 billion yuan in

Analysis: CNOOC needs to double down on drilling and deals in carbon-cutting gas pivot- oil and gas 360

Analysis: CNOOC needs to double down on drilling and deals in carbon-cutting gas pivot

Reuters SINGAPORE/BEIJING – A rapid rise in offshore drilling and deepwater gas extraction may seem an unlikely path to lower emissions, but are central planks of Chinese energy major CNOOC Ltd’s plan to help hit Beijing’s climate goals. While global peers like BP, Royal Dutch Shell have announced cuts in hydrocarbon output and huge renewable energy investments to cut emissions,

Vessel carrying Guyana's first-ever oil cargo sets sail for the U.S.: Tanker Trackers- oil and gas 360

Vessel carrying Guyana’s first-ever oil cargo sets sail for the U.S.: Tanker Trackers

Reuters A vessel carrying about 1 million barrels crude oil from Guyana set sail on Monday for the United States, according to vessel tracking service TankerTrackers.com, ushering the tiny South American nation into ranks of the world’s oil exporters. The first cargo of Liza crude departed from the floating platform Liza Destiny off Guyana, operated by U.S. companies Exxon Mobil,

Oil Company Layoffs Hitting Canada

Spanish energy giant Repsol cuts 30% of Canadian staff with layoffs in Calgary, Chauvin and Edson From Reuters NEW YORK/CALGARY — Spanish energy company Repsol SA is cutting about 30 per cent of its Canadian workforce as part of global restructuring, the company said in an emailed statement on Tuesday. Repsol joins a string of large international energy companies that

CNOOC Signs 100-Day Jack-Up Extension with Maersk in the UK Shelf

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

SBM Offshore to Operate FPSO Offshore Rio with Petrobras - Oil & Gas 360

Petrobras Gets New Offshore Partner

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