Chinese Oil Companies Move Up on Fortune Global 500
For almost 15 years we have been beating the drum of the importance of the oil business for the world, a far cry from peak oil and the cacophony of climate change nonsense. Chinese demand for oil and...
View ArticleDeloitte: Energy deals tumble 30 percent from 2012
Energy deal making has entered a lull, with mergers and acquisitions down almost 30 percent this year from 2012, according to a study released by Deloitte & Touche Monday morning.
View ArticleBrazil grants landmark offshore oil contract to foreign companies, amid...
Brazil awarded a consortium the rights to share in risk and profit in developing the Libra offshore field, estimated to contain 12 billion barrels of oil.
View ArticleFilipino, China oil firms eye deal in disputed sea
A Filipino-British company has begun talks with China's state-owned offshore oil producer for an oil- and gas-exploration deal in part of the South China Sea where Philippine and Chinese vessels were...
View ArticleAnalysts criticize economics of Brazil’s Libra field bid
Less than a week has passed since Brazil’s landmark auction of its gigantic offshore Libra field, but analysts are already saying that the country should not view the results as a success.
View ArticleCnooc’s 2014 output growth target falls short of goal
Cnooc Ltd., China’s biggest offshore oil and gas producer, estimated it will increase output by as much as 5.6 percent this year, less than the targeted average for the five years through 2015.
View ArticleAnadarko to sell Chinese unit for $1.1 billion
Anadarko Petroleum said late Monday it reached a deal to sell its Chinese subsidiary.
View ArticleBrazil’s labor shortage can be surmounted, official says
Brazil's state-owned Pre-Sal Petroleo SA and its corporate partners, who are drilling into one of the world's largest offshore oil discoveries in the last decade, face severe challenges because of...
View ArticleChina rig finds gas after Vietnam sea standoff
The discovery by China National Offshore Oil Corp. was made about a month after its rig withdrew in July from Vietnam's exclusive economic zone to far less-contested waters closer to China.
View ArticleOil producer Nexen cuts workforce by 400
Nexen is a wholly-owned subsidiary of CNOOC Limited, one of China's major national oil companies.
View ArticleShell moves forward on major Gulf of Mexico platform
Shell said it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global benchmark for oil prices stays above $55 a...
View ArticleChina accepts group’s case against ConocoPhillips, CNOOC
In June 2011, oil spills from an oilfield jointly owned by Houston-based ConocoPhillips’ Chinese subsidiary and CNOOC, China’s main offshore oil and gas producer, drained into the Bohai Sea and its bay.
View ArticleFluor forms joint venture with China offshore giant
The energy construction and engineering company is teaming up with the state-owned China National Offshore Oil Corp., or CNOOC, and its subsidiary, the Offshore Oil Engineering Co., to form the new...
View ArticleChina offshore giant to cut oil output for first time since 1999
Total spending last year missed the company’s original target, highlighting how producers have struggled with oil’s plunge to a 12-year low.
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