China News


Teekay cancels flotel newbuilds

Aug 04, 2016

Teekay Offshore is to take a hit of US$43.7 million after cancelling construction contracts for two flotels, described by Teekay as units for maintenance and safety (UMS). The firm also says it suffered a drop in income due to its Arendal…

New name for Repsol Sinopec joint venture

Jul 05, 2016

As of 4 July, the business formerly known as Talisman Sinopec Energy UK has been renamed as Repsol Sinopec Resources UK. This follows the acquisition, in 2015, by Repsol of the global assets of the former Talisman Energy, including a 51% stake in the UK North Sea joint venture with Sinopec…

UH researcher develops new tertiary recovery method

Jun 27, 2016

As oil producers struggle to adapt to lower prices, getting as much oil as possible out of every well has become even more important, despite concerns from nearby residents that some chemicals used to boost production may pollute underground water resources…

CNOOC names new CEO

Jun 16, 2016

China National Offshore Oil Corp. (CNOOC) has appointed a company chairman, Yang Hua, as its new new CEO. Hua is replacing Li Fanrong who will join China’s National Energy Administration as deputy director. Hua said he will continue…

Painting a rosy picture

Jun 01, 2016

Colin Welsh Good news at last! In recent months, I have endeavored to counter some of the gloom that has pervaded the oil business for the last eight quarters by highlighting fundamentals such…

Mermaid wins 7 subsea gigs, delays newbuilds

May 27, 2016

Mermaid Maritime’s Western Hemisphere business unit (MSSW) has been awarded seven different subsea projects in the Middle East with an estimated value of US$11 million. In addition, Mermaid has also secured extensions for three newbuild deliveries…

Primeline, CNOOC in arbitration

May 25, 2016

Primeline Energy has begun arbitration proceedings against China National Offshore Oil Corp. (CNOOC) for continuing disputes over the development, production and sale of gas from the LS36-1 gas field in the East China Sea. Primeline, which has 49% stake in LS36-1 in Block 25/34…

China's CNPC, Mozambique to cooperate

May 24, 2016

The heads of Chinese oil firm CNPC and Mozambique's state oil firm ENH have signed a cooperation framework agreement over work in the oil and gas exploration and production market. CNPC is a partner in the Eni-operated Block 4, offshore…

CNOOC starts at Panyu

Apr 25, 2016

China National Offshore Oil Corp. (CNOOC) has started production at its Panyu 11-5 field in the South China Sea. Panyu is loctated in the Pearl River Mouth basin in 110m water depth.  While there is currently one well producing approximately 3270 b/d…

Aqualis, CSCD join engineering forces

Apr 21, 2016

Aqualis Offshore and China Ship Design & Research Center Co. (CSDC) have signed an agreement to cooperate on engineering projects both in China and internationally.  CSDC specializes in shipbuilding and offshore engineering services.…

CIMC mates latest Frigstad ultra-deepwater rig

Mar 31, 2016

Frigstad Kristiansand, the second ultra-deepwater semisubmersible drilling rig build by CIMC Raffles for Frigstad, completed mating in Yantai Shipyard, China, yesterday. As one of the deepest operating and drilling semisubmersible rigs…

CNOOC falls 66% in 2015

Mar 28, 2016

China National Offshore Oil Corp. (CNOOC) may have made 16 new discoveries and appraised 23 oil and gas structures in 2015, but also experienced a net profit decline of 66.4% year-on-year to US$3.1 billion. Liuhua operations…

Schlumberger, Cameron win Chinese approval

Mar 25, 2016

The Chinese Ministry of Commerce (MOFCOM) has cleared Schlumberger and Cameron's proposed US$14.8 billion merger without any conditions. This approval from China's antitrust regulator, MOFCOM, represents the last major hurdle towards closing the deal…

Petrobras inks US$10 billion Chinese finance deal

Feb 29, 2016

Petrobras entered into a US$10 billion financing deal with China Development Bank (CDB) that includes a trade agreement for the Brazilian giant to supply oil to Chinese companies. Image from Petrobras…

Deepwater gas find for CNOOC

Feb 29, 2016

China's CNOOC has laid claim to the the country's first ultra-deepwater gas discovery in the northwestern part of the South China Sea. The Lingshui 18-1-1 exploration was drilled in 1688m (5538ft) water depth and has been certified as a discovery by the Ministry of Land & Resources…

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