China News

 

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…

Aqualis inks Cantex FPSO MWS work

Feb 25, 2016

Cantex Global Logistics awarded offshore marine and engineering consultancy Aqualis Offshore a contract to provide the marine warranty surveyor (MWS) services for FPSO P67 and P70 topside modules transportation from various Brazilian ports to COOEC’s yard in Qingdao…

China offers 18 offshore blocks

Feb 25, 2016

A total of 18 blocks are up for bid for exploration in 2016 to international oil and gas companies wanting to partner with operator China National Offshore Oil Co. (CNOOC). Map of blocks up for bid…

MacGregor, COSCO ink Pusnes deal

Feb 18, 2016

MacGregor signed a contract to supply its Pusnes technology to the COSCO Shipyard Group in China. Upon the terms of the agreement, MacGregor will design, manufacture, deliver and commission complete Pusnes loading systems for two cargo transfer vessels (CTVs)…

Wärtsilä to design new type of deepwater DSV

Feb 17, 2016

Wärtsilä entered into a contract with Shanghai Bestway Marine Engineering Design Co. last month to design a new type of deepwater dive support vessel (DSV) for China state-owned company Shanghai Salvage Bureau (SSB). Image from Wärtsilä…

IEA: Global oil demand to decline considerably

Feb 09, 2016

In the International Energy Agency’s (IEA) oil market report for February 2016, signs of a demand slowdown surface, with higher OPEC output only partly offsetting non-OPEC decline. Having peaked, at a five-year high of 1.6 MMb/d in 2015…

Fighting for survival

Feb 01, 2016

So much for a happy new year! The first few weeks of 2016 have given no cause for cheer with crude falling a further 20%, more job losses, and further project delays or cancellations. Colin Welsh…

ABB software for Ultra Deep Solutions' newbuilds

Feb 01, 2016

Power and automation firm ABB is to provide software for three newbuild deepwater subsea construction vessels being built by new company Ultra Deep Solutions. Ultra Deep Solutions was set up in 2014, by industry veteran Sheldon Hutton…

Nylacast to open China facility

Jan 28, 2016

Leicester-based engineering polymer firm Nylacast is to open a new production facility in China following a £12 million (US$17.21 million) funding deal from Santander Corp. & Commercial.  Nylacast supplies high performance engineering polymers and finished components to the oil and gas…

CNOOC's Kenli 10-4 online

Jan 27, 2016

China’s CNOOC commenced production at the Kenli 10-4 oilfield, offshore China. The Kenli 10-4 oilfield is located in the South of Bohai at about 15m water depth. In addition to fully utilizing the existing facilities of Kenli 10-1 oilfield…

CNOOC sees drop in 2016 plan

Jan 19, 2016

Beijing-based China National Offshore Oil Corp. (CNOOC)’s 2016 business and development plan shows a slight reduction of about 5% when compared to 2015 due to continued challenges with low oil prices. Image of CNOOC's Golden Eagle…

12-year oil price lows mark start to 2016

Jan 11, 2016

Oil prices have been extremely volatile since the first trading day of 2016 and hit 12-year lows last week with Brent dropping below US$33/bbl for the first time since 2005. The fall in the Chinese manufacturing index, the Saudi-Iran…

Shell, BG to shed 2800 jobs as merger clears

Dec 14, 2015

Shell has cleared the final regulatory approval for its US$70 billion acquisition of BG Group, after receiving 'unconditional merger clearance' from the Chinese Ministry of Commerce (MOFCOM). This approval from China is the final regulatory…

CNOOC, Husky in South China Sea PSC

Dec 03, 2015

China National Offshore Oil (CNOOC) signed a production sharing contract (PSC) with Husky Oil Operations (China) for Block 15/33 in the South China Sea. Block 15/33 is located in the Pearl River Mouth Basin of the South China Sea. The…

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