China National Offshore Oil Corporation

CNOOC expects little change in output

CNOOC expects little change in output. Photo: Reuters

The five-year target excludes new acquisitions, such as its US$15.1 billion purchase of Canadian oil and gas firm Nexen, which is pending approval by United States regulators.

Thursday, 31 January, 2013, 5:20am

Briefs, January 8, 2013

Investment in NBA China begins to pay off

AirAsia founders plan to list insurance firm

8 Jan 2013 - 4:21am

Suitors learn softer touch

A Nexen shale gas drilling operation in northeastern British Columbia. The company is Canada's 10th-largest energy firm. Photo: EPA

Back in the day, before the US Congress tore apart China's proposed multibillion-dollar deals with Western companies one after the other, Beijing's lobbying left little to the imagination.

China's Washington embassy blasted out form letters to every US lawmaker when it was upset with Congress, warning of grave damage to Sino-American relations, congressional aides recall.

24 Aug 2012 - 2:47am

Mainland oil majors to post weaker profits

CNOOC, the mainland's dominant offshore oil and gas producer, is expected to report a small decline in first-half net profit tomorrow, as a drop in output and higher production costs offset the benefits of higher prices and lower tax.

20 Aug 2012 - 4:51am

Trade lubricant

China National Offshore Oil Corp announced last month that it was proposing to buy Canada-based Nexen in a US$15 billion deal. This caused quite a stir in Canada, with the domestic mainstream media reporting it widely. By contrast, the response of the Chinese media and public appears rather muted.

15 Aug 2012 - 10:54pm

Business Digest

Shell, CNOOC link up in offshore oil and gas deal

26 Jul 2012 - 12:00am

Analysis of China's resource hunt based on flawed ideas

The China National Offshore Oil Corp's US$15.1 billion takeover bid for Canadian oil company Nexen announced on Monday is not, as many media have been reporting, China's largest attempted overseas acquisition.

25 Jul 2012 - 12:00am

Investors cool to CNOOC's deal

The China National Offshore Oil Corp's US$15.1 billion offer for Canadian business partner Nexen has failed to impress investors, who yesterday sold its shares down 4 per cent to HK$14.82.

The sell-off could largely be due to a 3.6 per cent fall in crude oil prices overnight in New York amid worries of Europe's sovereign debt problems.

25 Jul 2012 - 12:00am

Oil could ignite this powder keg

For all the Sino-Philippine tension at sea over disputed reefs and the megaphone diplomacy in recent days between Beijing and Hanoi over the Paracel Islands, it is the prospect of an intensifying dispute about international oil exploration in the South China Sea that alarms strategic analysts and diplomats.

29 Jun 2012 - 12:00am

Lai See

Fuming drivers' fumes undermine electric vehicle drive

26 May 2012 - 12:00am

Sinopec stays firm on China Gas buying price

China Petroleum & Chemical (Sinopec), the mainland's second largest oil and gas producer, has played down the chances of raising the offer price of its joint bid with ENN Energy to take over China Gas Holdings.

27 Mar 2012 - 12:00am

COSL falls 4pc on funding worries

China Oilfield Services (COSL), the nation's dominant provider of offshore oil and gas drillers, saw its share price fall up to 4 per cent after its mandate to issue shares on the mainland lapsed, leaving investors wondering how the firm will fund future development.

27 Jan 2012 - 12:00am

1.2b yuan payout for oil spill 'an insult'

State-owned oil giant CNOOC and US partner ConocoPhillips have reached a 1 billion yuan (HK$1.23 billion) compensation deal with China's Ministry of Agriculture over last year's Bohai Sea oil spill.

26 Jan 2012 - 12:00am

CNOOC increases output targets

CNOOC, the mainland's largest offshore energy explorer, plans to produce up to 340 million barrels of oil equivalent (boe) and estimated that net production last year was 331 million to 332 million boe.

Capital expenditure for this year will be US$9.3 billion to US$11 billion, compared with US$8.77 billion last year, the company said yesterday.

19 Jan 2012 - 12:00am

Probe on partial sinking of COSL supply ship

An investigation is under way after a 740 million yuan (HK$911 million) offshore supply ship being built for China Oilfield Services (COSL) by Wuchang Shipbuilding Industry partially sank at the weekend during trials.

19 Jan 2012 - 12:00am