Tag Archives: Global Times

China’s First Intelligent Factory for Marine Oil & Gas Extraction Equipment Put into Operation

China National Offshore Oil Corporation (CNOOC) announced its first intelligent factory to produce marine gas and oil extraction equipment has been put into operation, Xinhua News Agency reported on Sunday, marking a breakthrough in the manufacturing digitalization of the field. China’s first factory for marine gas and oil extraction equipment …

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China may Spend $100 Billion more on Crude Oil Imports in 2022 amid Surging Global Oil Prices

With the high volatility of international oil prices, China’s year-on-year increase in spending on oil and gas imports may exceed $100 billion, while further pressuring downstream business operations in addition to commercial consumption, financial media outlet Caixin reported on Wednesday, citing multiple experts. China may spend $100 billion more on …

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CNOOC Announces Multiple Energy Source Achievements

China National Offshore Oil Corporation (CNOOC) on Monday announced that one of its oil exploration projects, Liza Phase II in the Stabroek Block near Guyana, commenced production safely and ahead of schedule. It is expected to reach peak production of approximately 220,000 barrels of crude oil per day this year, …

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