China News

 

CNOOC starts Bozhong 28/34

Jun 30, 2015

CNOOC began production at its Bozhong 28/34 oilfields offshore China. The Bozhong 28/34 oilfields are located in Bohai Bay with an average water depth of approximately 22m. The project consists of three sub-projects, namely Bozhong 28-2S oilfields comprehensive adjustment project…

Petrobras scandal reaches Asia

Jun 25, 2015

The Petrobras Lava Jato (Car Wash) scandal is hitting Asia this week, as the names of two Singaporean shipbuilders are coming back into play for allegedly being linked to one of the largest oil and gas bribery and corruption waves to hit South America…

Baoham Offshore gets new vessels

Jun 17, 2015

Baoham Offshore (HK) Ltd. will acquire new vessels for its fleet, including a newbuild semisubmersible and liftboat, reports the American Bureau of Shipping. Baoham selected ABS to provide classification services for the newbuilds in China…

CNOOC’s Dongfang1-1 onstream

Jun 11, 2015

China National Offshore Oil Corp. (CNOOC) commenced production at the Dongfang1-1 gas field Phase I adjustment project ahead of schedule, in the South China Sea. Image from CNOOC. The…

Picking up wind

Jun 01, 2015

About US$336 billion (€300 billion) could be spent in offshore wind capex over the next 10 years, with cumulative capacity surpassing 57GW. Douglas Westwood’s Rachel Stonehouse explains. Cumulative offshore wind capacity is forecast to reach 57GW by 2024…

CNOOC in eastern South China Sea find

May 27, 2015

China National Offshore Oil Corp. (CNOOC) discovered a mid-sized oil find at Liuhua 20-2 in the eastern South China Sea. Oil was found at the LH20-2-1 well, located at the Liuhua 20-2 structure in Northern Slope Belt of Baiyun Sag in…

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…

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