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  1. Oilfield halt hits CNOOC shares; US partner to be sued for oil spill damage

    Posted Sep 06th 2011, 12:00am

    ... oil company ConocoPhillips, the operator of the field, holds the rest. In a report on the oil spill, the State Oceanic Administration slammed ConocoPhillips for failing to seal the leak. ... closure of the two wells, the company said. The output target for the year was cut by 6.7 per cent last month, taking into account the oil spill and a delay in the approval of an acquisition ...

  2. Offshore operators put on notice after oil spills

    Posted Jul 09th 2011, 12:00am

    ... Zhuang Pinghui pinghui.zhuang@scmp.com China's maritime watchdog has ordered oil companies operating offshore wells to assess accident risks following two spills in an oilfield off ... square kilometres of sea. CNOOC owns 51 per cent of the joint venture company, Operators of wells that had experienced oil spills should improve risk management and prevent such accidents from ...

  3. US company reveals scale of oil spill

    Posted Jul 15th 2011, 12:00am

    ... Stephen Chen binglin.chen@scmp.com About 1,500 barrels worth of oil and oil-based drilling fluids- some 240 cubic metres- has spilled in China's biggest offshore oilfield, in Bohai ... with independent experts to validate the number. Mainland authorities ordered the company on Wednesday to cease production at the two platforms on the Penglai oil field, run in partnership ...

  4. CNOOC cuts output target by 6.7pc

    Posted Aug 25th 2011, 12:00am

    ... acquisition in Argentina, as well as a domestic oil spill. The company aims to produce oil and gas totalling 331 million to 341 million barrels of oil equivalent (BOE), down from its goal of 355 ... for a six month closure. As for potential liability from the oil spill, CNOOC president Li Fanrong said United States oil company ConocoPhilips, its partner and operator of the project, ...

  5. Cnooc expected to miss output target

    Posted Oct 08th 2011, 12:00am

    ... Eric Ng eric.mpng@scmp.com CNOOC may miss an already-pared production target for this year because of oil spills, while growth prospects over the next few years are expected to be clouded ... and production at the Penglai 19-3 offshore oilfield in northern China, which was plagued by oil spills since June. Although ConocoPhillips is responsible for the day-to-day operation of the field, CNOOC ...

  6. Cnooc bullish on output target

    Posted Oct 27th 2011, 12:00am

    ... billion acquisition of a 30 per cent stake in Pan American Energy- partly because the approval process was delayed by elections in Argentina- and also by production disruption from oil spills ... to completely screen out the oil spill risks and seal the sources of oil spillage. This cut CNOOC's daily production by a further 40,000 barrels a day. CNOOC is entitled to 51 per cent ...

  7. Talking points

    Posted Jul 05th 2011, 12:00am

    ... of the retail bond market. The government plans to issue between HK$5 billion and HK$10 billion worth of the iBonds. Oceanic agency to release oil spill reports The State Oceanic Administration holds a press conference today to announce the results of its investigation into two oil spills at the Peng Lai 13 oilfield in the mouth of Bohai Bay last month. The Peng Lai 13 field is China's ...

  8. Lai See

    Posted May 26th 2012, 12:00am

    ... dismissed these notions, saying that if there was to be a penalty for the oil spill then it would have been in the form of a deduction. He added that it didn't indicate a change in company ... there is no indication of this in the company's reports, so far as we can see. You would have thought a company of this significance would give an explanation. If it's not the oil spill ...

  9. Cosl writes down value of its Libyan oil assets

    Posted Aug 25th 2011, 12:00am

    ... such as those for deep sea operations. Some rigs redeployed or upgraded in the first-half will start to contribute in the second-half. First-half work volume was also cut by oil spills and the shut-down ... Average rig utilisation fell to 94 per cent from 100 per cent. CLSA head of Asian oil and gas research Simon Powell wrote that the decline, amid higher oil prices and increased spending ...

  10. Mainland factories see less profits for 4th month

    Posted Jun 30th 2012, 12:00am

    ... rose 7.2 per cent year on year to US$115.5 a barrel, although domestic oil output fell 1.0 per cent due to a major offshore oil spill that led to a halt in production. Power generators saw ... to a profit. Among the gainers, profit rose 4 per cent in the oil and gas production sector, compared with 16.7 per cent for the agricultural and food processing sector, and 22.2 per cent ...




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