Petroleum Production

China Petrochemical targets Maurel & Prom

China Petrochemical targets Maurel & Prom

China Petrochemical Corp, the nation's second biggest oil producer and the largest oil refiner, is reportedly sizing up Africa- and Latin America-focused French mid-size oil and gas producer Maurel & Prom as a potential acquisition target.

Friday, 2 November, 2012, 5:30am

Oil producer Sunshine Oilsands seeks C$300m to fund projects

A mountain of sulphur forms next to a mine in Fort McMurray.

Canada's Sunshine Oilsands, 29 per cent owned by Chinese state-backed firms, plans to raise between C$300 million (HK$2.33 billion) and C$350 million by seeking more bank loans to fund the development of its second oil sands production project in northern Alberta.

1 Nov 2012 - 4:48am

Drill pipes producer looks to the world

Hilong Holding, the world's second-largest supplier of drill pipes used in oil and gas fields, expects overseas sales to exceed domestic numbers in three to five years as it continues expansion abroad and faces a tougher task growing domestic market share.

14 May 2012 - 12:00am

U.S. firm reopens wells in Bohai Bay

ConocoPhillips has reopened wells to ease reservoir pressure in China's biggest offshore oilfield, Penglai 19-3 in Bohai Bay, for the first time since the State Oceanic Administration suspended the companies' production early this month in the wake of a series of spills.

13 Sep 2011 - 12:00am

More oil slicks appear in Bohai Bay

The oil spill in China's largest offshore oilfield, in northern Bohai Bay, has still not been contained nearly two months after the problem emerged, authorities say.

30 Jul 2011 - 12:00am

Offshore operators put on notice after oil spills

China's maritime watchdog has ordered oil companies operating offshore wells to assess accident risks following two spills in an oilfield off Shandong .

9 Jul 2011 - 12:00am

Oil industry tips surge in tanker storage

Burgeoning development of offshore oil and gas fields buoyed by higher oil prices will lead to a surge in the use of floating production and storage ships between now and 2018. Industry experts say 17 of these static tankers are being designed in China or are in operation there alone.

13 Apr 2011 - 12:00am

A lesson from the disaster in the gulf

One month ago the Deepwater Horizon oil well in the Gulf of Mexico exploded, killing 11 workers and sinking the drilling rig they had been working on. Since then the well has been spewing oil into the sea, and that oil is now starting to kill animals and ruin nearby shorelines.

17 May 2010 - 12:00am

Strong Petrochemical eyes storage projects

Strong Petrochemical Holdings plans to spend 355 million yuan (HK$402.68 million) on two mainland oil and petrochemical storage projects by mid-2011 so that it can enter the country's fuel wholesaling market.

14 Jul 2009 - 12:00am

Citic Resources cuts outlay on Kazakh field

Oil and metals producer Citic Resources Holdings and its partner have slashed this year's spending to boost future output growth in their oil project in Kazakhstan. This was after cash inflows dwindled on the back of the sharp plunge in oil prices.

15 Apr 2009 - 12:00am

Honghua Group secures US$200m rigs order from Russia

Honghua Group, the world's second-largest producer of onshore oil and gas drilling rigs, has won a US$200 million contract to sell land drilling rigs in a move to boost its exposure in Russia.

11 Aug 2008 - 12:00am

COSL to expand into onshore drilling sector

China Oilfield Services (COSL), the dominant provider of support services to oil and gas producers in offshore China, will enter the onshore drilling market for the first time this year as it puts five drilling rigs to use.

7 Apr 2008 - 12:00am

China Oilfield in deepwater push

China Oilfield Services Ltd (COSL) plans to spend 3 billion yuan (HK$3.33 billion) in the next three years to beef up its capacity to serve the nascent but high-potential deepwater drilling market.

Going deepwater is one of three business drivers of the nation's dominant offshore oil services provider this year, according to chief executive Yuan Guangyu.

1 Apr 2008 - 12:00am

Pig farmers bow to Muslim calls to cut stocks

Pig farmers in Malacca have agreed to reduce the state's stocks by two-thirds in deference to their Muslim neighbours, for whom the animal is offensive and banned on religious grounds.

8 Sep 2007 - 12:00am

CNOOC wins Australian permit

CNOOC, the mainland's dominant offshore oil producer, has won a permit to explore for oil and gas in an area offshore of Western Australia that may cost A$162.1 million (HK$1.08 billion) over six years.

The company was one of nine firms that won new exploration permits in 11 offshore areas, Australia's Minister for Industry, Tourism and Resources said in a statement.

2 Aug 2007 - 12:00am