China News

 

Petrobras gets billions from China

May 20, 2015

Petróleo Brasileiro (Petrobras) confirms that it signed a US multi-billion dollar cooperation agreement with China Development Bank Corp. (CDB). Funding will be for years 2015 and 2016, which includes US$3.5 billion, already disbursed…

CNOOC appoints new chair

May 19, 2015

Yang Hua has been appointed as chairman of the board and chairman of the nomination committee of CNOOC.  This appointment followed the resignation of Wang Yilin from his positions at CNOOC as chairman of the board, chairman of the nomination committee and non-executive director of CNOOC…

Mayer Brown: How to survive low oil prices

May 13, 2015

With West Texas Intermediate trading at US$60.13/bbl and NYME natural gas set at $2.94/MMBtu, hydrocarbon producers are looking for ways and means to survive the low price environment. Some of those that are best weathering the storm are those that made specific choices before the fall…

OTC15: China emerging

May 06, 2015

At an industry breakfast organized by OTC and the US Department of Commerce, experts said China was chosen as topic of discussion because of its emerging oil and gas business investment opportunities. OTC…

Offshore heavy oil economics

May 01, 2015

Jeannie Stell looks at offshore heavy oil development economics with an eye on the current low-price environment. ExxonMobil expects its 52-well Hebron development project offshore Newfoundland to bring in first oil in 2017…

CNOOC's Kenli 10-1 online

Apr 23, 2015

The Kenli 10-1 field offshore China is now online, according to China National Offshore Oil Corp. (CNOOC). Image from CNOOC. Production at the field located in Bohai Bay began on 23 April at an average water depth of 17m…

CERAWeek: Tillerson advises the industry

Apr 22, 2015

The sudden drop in oil prices is different from cycles in the recent past, said Rex Tillerson, chairman and chief executive of ExxonMobil, during his Tuesday morning keynote speech and discussion at the recently held CERAWeek. This event has been created due to oversupply…

CERAWeek: Managing through the cycle

Apr 21, 2015

Currently, the energy industry is focused on finding ways to master the challenges of the low oil-price cycle. To meet those challenges, first, operators must re-evaluate the future of global oil development, said OAO LUKOIL President Vagit Alekperov…

CSR completes SMD acquisition

Apr 17, 2015

China's Zhuzhou China South Rail Times Electric completed a £130 million acquisition of the UK-based ROV and trenching equipment manufacturer Specialist Machine Developments (SMD), also known as Soil Machine Dynamics. Zhuzhou specializes…

First TLPs for offshore China

Apr 16, 2015

Technip is to help design China's first tension leg platforms (TLPs) under a contract with joint venture partner China Offshore Oil Engineering Co. (COOEC). Image from CNOOC. The…

Renewables investment reaches record highs

Apr 07, 2015

Global investment in renewable energy reached record levels in 2014, including the record-breaking US$3.8 billion financing of the largest ever renewable energy plant, a Dutch wind farm project, a new report has shown. Image from Siemens…

Northern delays jackup deliveries

Mar 31, 2015

Northern Offshore is delaying the delivery of two of its high specification jackups due to the downturn of the drilling market. The West Navigator. From NADL.   Northern was able to…

GlobalData: Rosneft focuses on Russian gas

Mar 31, 2015

Despite the recent memorandum of understanding (MOU) between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating liquefied natural gas (LNG) projects in Russia, according…

Wärtsila chosen to power new barges

Mar 13, 2015

Two new jackup barges ordered by the National Petroleum Construction Co. (NPCC), based in the United Arab Emirates, will feature fully integrated Wärtsilä power generation and electrical and automation (E&A) solutions. The SEP 650 and…

CNOOC brings Qinhuangdao online

Mar 09, 2015

CNOOC Ltd. announced that its Qinhuangdao 32-6 comprehensive adjustment project has commenced production. The Qinhuangdao 32-6 oilfield is located at the central north of Bohai Bay with an average water depth of approximately 20m. The…

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