Cnooc, a Chinese offshore oil producer, said first-half profit declined 11 percent, less than analysts had expected, as the company reined in operating costs. Net income slid to 14.6 billion yuan ($1.9 billion) from 16.3 billion yuan a year earlier, the Beijing-based company said, reflecting lower average oil prices. Oil and gas production rose to [...]
China National Offshore Oil Corporation Ltd (CNOOC Ltd) is trumpeting a “significant” oil find in Bohai Bay that it expects to be developed into a “light oilfield of considerable scale”.
Three shallow-water wells have been drilled at the Jinzhou 25-1 field, striking oil and gas pay zones ranging in thickness from 54 to 261 feet, the [...]
South Korean city gas provider SK E&S said on Thursday its Chinese joint venture has signed a deal to buy a 50 percent stake in Chinese local city gas distributor Taizhou Gas for 8.6 billion won ($9.15 million).
The stake purchase would be made by China Gas-SK Energy Holdings, a joint venture established in March [...]
China’s top offshore oil and gas producer CNOOC Ltd (0883.HK: Quote, Profile , Research) has defended its search for new acreage in Africa against critics who say China is desperate to secure oil reserves at any price to fuel its roaring economy.
“Concerning our investment in Africa, there were a lot of comments in the international [...]
CNOOC , the mainland’s largest offshore oil and gas producer, said interim earnings tumbled 10.6 percent as global oil prices softened in the second half of last year and the first half this year.
But analysts remain upbeat on the outlook for CNOOC, based on a rebound in crude oil prices and discovery of a large [...]
China National Offshore Oil Corp. Ltd. (CNOOC Ltd.), the nation’s leading offshore oil and gas producer, has made a significant light oil discovery at an oilfield in the Bohai Bay, and output from its key Liuhua oilfield has returned to normal after suffering typhoon damage last year, company officials said during a press conference held [...]
