Tag Archives: China National Offshore Oil Corporation (CNOOC)

ExxonMobil and China National Offshore Oil Corporation (CNOOC) have merged their arbitration claims against Chevron’s takeover of Hess’s stake in the most prolific oil block offshore Guyana. Last autumn Chevron and Hess reached an agreement under which the supermajor would buy Hess Corporation, including its assets in Guyana, where Hess, …

China National Offshore Oil Corporation (CNOOC) is dispatching a team of top executives to Angola to explore new oil exploration opportunities, reported Reuters. This development comes as Angola, one of Africa’s leading oil producers, seeks to strengthen its energy ties with China, a principal creditor and a crucial market for …

China National Offshore Oil Corporation (CNOOC) is targeting net production of 700 million to 720 million barrels of oil equivalent (MMboe) in 2024. The production will be divided into 69 percent for China and 31 percent for overseas accounts, the state-owned oil company said in a recent news release. CNOOC …

Chinese state energy giants plan to ask the United States for exemptions from the fresh sanctions on Russia’s Arctic LNG 2 project in a rare request to the U.S. as LNG deliveries could be threatened, Bloomberg reported on Friday, citing sources familiar with the issue. The U.S. imposed last month …

Some of the world’s largest national oil companies (NOCs) have improved significantly their resilience to oil price slumps in the near future thanks to huge cash flows and profits in the past two years. But many of those companies face challenges in sustainability and ESG metrics due to governance issues, …

China’s state-run CNOOC oil and gas giant has announced the discovery of what Chinese media are referring to as a large, deep-reservoir coalbed methane field with proven geological reserves of over 100 billion cubic meters (bcm) of natural gas. A discovery of this magnitude represents CNOOC’s second major onshore gas …

China has been stepping up its natural gas purchases as well as facilitating construction in recent years, as part of efforts to ensure sufficient energy supply amid its green transition, said industry experts. The country is looking to sign more deals to avoid future shortages and reduce dependence on spot …

China’s Cnooc Ltd. is planning offshore oil and gas exploration with state-owned Tanzania Petroleum Development Corp. as the East African nation seeks to boost the development of its natural resources. The joint work will be conducted in deep-sea blocks 4/1B and 4/1C held by TPDC, according to Tanzanian Energy Minister …

China’s drive to reduce its dependence on imported oil has led to the construction of a huge concrete facility near Zhuhai, resembling the size of Monaco, which serves as the centerpiece of its deepwater drilling efforts. The facility, operated by a unit of China National Offshore Oil Corp (CNOOC), is …

The increasingly closer relations between China and Russia and the Chinese push to make its currency more relevant on the global markets are challenging the dominance of the petrodollar. The U.S. dollar, which has been the currency of choice in oil trade since the 1970s, is still the dominant currency …