China National Petroleum Corporation (CNPC) is teaming up with China Petroleum & Chemical Corporation (Sinopec Group) to bid for the Peru-based private-held company, Petro-Tech Peruana, sources reported.
The potential deal is expected to cost between US$1.5 billion and US$2.5 billion, and the two Chinese state-owned companies, cooperating under Beijing’s coordination, expects Petro-Tech to announce the result [...]
Mainland largest offshore oil producer China National Offshore Oil Corp (CNOOC) has given up its working interest in oil exploration license (OML) 141 in Nigeria owning to an unclear prospect, the South China Morning Post reported citing an unnamed source.
CNOOC this month agreed to give most of its 35% share back to Nigerian firm Emerald [...]
China National Petroleum Corp. said it has discovered oil and natural gas in two blocks in Kazakhstan as the biggest Chinese oil producer steps up exploration to meet rising domestic demand for energy.
PetroKazakhstan Inc., a unit of China National, made the discoveries in the Karaganda and Doshan blocks, the Beijing- based company said in a [...]
China National Petroleum Corp. (CNPC), the country’s largest oil producer, is mulling over increasing its portfolio in the urban gas distribution sector.
CNPC, also the country’s leading company in natural gas production and transportation, said it would use its dominance role in domestic gas production and supply upstream business to further develop its gas retail operation, [...]
PetroChina Co Ltd will release official gas reserve estimates for Longgang field in southwestern China’s Sichuan province in October, the China Business News reported.
The paper quoted a company official as saying that the field, situated on the boundary between the three counties of Yilong, Yingshen, and Pingchang, holds at least 300 bln cubic meters of [...]
China Petroleum & Chemical Corp.(Sinopec), the country’s biggest state-owned oil refiner, is bidding for the London-listed Imperial Energy as part of its overseas expansion to secure crude oil supplies for the country, according to sources.
Imperial Energy’s board has allowed Sinopec to start due diligence by giving it access to its data room after an approach [...]
