More demanding tasks set to bring more income at COSL

A possible decline in the drilling rates of jack-up rigs like the one above being built in Dalian could hurt COSL's profit margins, according to one financial analyst. Photo: Bloomberg

The nation's dominant offshore oil-drilling services provider, China Oilfield Services Ltd (COSL), expects the basic drilling rate it charges its customers to be flat this year, even as its largest customer, CNOOC, is raising spending.

Monday, 4 February, 2013, 4:19am

The best growth yet to come, says Cosl

China Oilfield Services (Cosl), the nation's dominant drilling services provider, has rejected concerns it may have seen its profit growth peak as it faces greater rivalry and rising costs.

'I don't believe peak earnings growth is already behind Cosl. We have yet to see it,' chairman Liu Jian said.

22 Mar 2012 - 12:00am

Cosl writes down value of its Libyan oil assets

China Oilfield Services (Cosl), the nation's dominant offshore drilling services provider, has written down the value of its Libyan assets by 14 per cent to account for potential impairments due to civil war, citing accounting prudence.

25 Aug 2011 - 12:00am

Putin rejects COSL bid for oil firm

China Oilfield Services' bid to take control of a Russian oil company was rejected by President Vladimir Putin even after receiving the blessing of the energy ministry, the company's chief executive Yuan Guangyu has revealed.

4 Feb 2008 - 12:00am

Moscow blocks COSL acquisition proposal

China Oilfield Services Ltd (COSL), the nation's largest service provider for oil firms, said the Russian government blocked its planned acquisition in the country.

An investor relations manager at COSL, a unit of China National Offshore Oil Corp, said that Moscow late last year rejected its deal to buy a stake in STU, a service unit of TNK-BP, without giving a reason.

25 Jan 2008 - 12:00am