China News

 

Oil Price Crash - Where Does Asia Go from Here?

Mar 17, 2020

Energy companies across the Asia Pacific responding to unprecedented challenges on multiple fronts 2020 has hit us like a fist. Coronavirus is already the most severe shock to hit the world economy since the financial crisis over a decade ago. A dramatic ramp-up in containment measures is having a negative economic effect and weaker GDP growth, and potentially global recession, in 2020 is now a reality…

Update: Brent Oil Rises above $32 on Hopes of Output Deal

19 hours ago

Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…

Energean Power FPSO Hull Leaves China

20 hours ago

Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…

CNOOC Transfers Pipeline Infrastructure to PipeChina

Apr 02, 2020

China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.The statement did not give details on what projects have been handed over…

Chinese Buyers Snap Up U.S. Oil Purchases at Widest Discounts Ever

Apr 01, 2020

China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U…

Huisman Crane for Penta-Ocean's Wind Turbine Installation Rig

Mar 31, 2020

Dutch offshore equipment manufacturer Huisman has signed a contract with PaxOcean Engineering for the delivery of a 1,600mt Leg Encircling Crane. The crane will be installed on the new self-elevated platform (SEP) of Japanese company Penta-Ocean Construction…

China's CNOOC Reports 16% Rise in Net profit in 2019

Mar 25, 2020

China's national offshore energy producer CNOOC Ltd reported a 15.9% rise in 2019 profit on Wednesday, its best performance in five years thanks to higher oil and gas output and persistent cost control.CNOOC, one of the industry's lowest-cost explorers and producers…

CNOOC Eyes 'Significant' Spending Reductions

Mar 25, 2020

Chinese offshore oil and gas specialist CNOOC Ltd said on Wednesday it will 'significantly' reduce capital spending this year amid sharply lower global oil prices.The state-backed energy company saw limited impact on its operations from the…

CNOOC Names New President

Mar 20, 2020

Chinese oil company CNOOC has announced the appointment of Hu Guangjie executive director and president of the company. In a statement on Friday, CNOOC said that Xu Keqiang had resigned as the President of the Company, but would remain an Executive…

China's CNOOC to Load First Cargo of Guyanese Oil Soon

Mar 20, 2020

China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said.CNOOC has a 25% stake in…

Energean Power FPSO Hull to Sail Away in "Coming Weeks"

Mar 19, 2020

Israel-focused oil firm Energean expects the hull of its Energean Power FPSO will set sail from China in the coming weeks, easing concerns of potential further delays, after it last month warned over the possible impact of the coronavirus outbreak in China on the FPSO construction…

Husky Energy Delays Projects, Cuts Upstream Capex by $900M

Mar 13, 2020

Canadian oil and gas company has cut its CAPEX and production guidance for 2020 amid the volatile oil market environment. The cuts will be made in its upstream business with projects put on hold in China, Indonesia, and Canada.The company has slashed its 2020 capital program reduced by $900 million…

Ocean Installer Wins Subsea Cable Installation Job in China

Mar 10, 2020

Norway's offshore installation company Ocean Installer has won a deal to deliver and install a subsea power cable in China, as part of CNOOC Liuhua 16-2 oil field development in the South China Sea.In what is the company's second contract in China…

CNOOC Pondering Internal Merger for Gas, Power Unit

Mar 10, 2020

China National Offshore Oil and Gas Corp (CNOOC) is set to inject its struggling natural gas terminal and power unit into its flagship listed vehicle CNOOC Ltd, three senior sources with knowledge of the matter said. The plan for the internal merger…

CNOOC Brings Bozhong 34-9 Field Online

Feb 12, 2020

China National Offshore Oil Company (CNOOC) has started oil production from its Bozhong 34-9 offshore oil field.The field, sitting in the south of the Bohai Sea in water depth of 18 meters, will at plateau produce 22,500 barrels of oil per day…

Current News

Petrobras Delays Bids for Offshore Platform

Petrobras Delays Bids for Offshore Platform

Petronas Cautious over Dividend to Gov't as Energy Prices Tank

Petronas Cautious over Dividend to Gov't as Energy Prices Tank

Guyana's Oil Output Rises 58%

Guyana's Oil Output Rises 58%

Norwegian Gas Exports to UK Fall Sharply as Demand Slumps

Norwegian Gas Exports to UK Fall Sharply as Demand Slumps

Subscribe for OE Digital E‑News

Offshore Engineer Magazine