CNOOC Ltd broadens horizons

CNOOC Ltd, the listed unit of China National Offshore Oil  Corporation (CNOOC) is embarking on a plan that envisages increased co-operation with foreign oil companies at home and  overseas as it works to meet a  targeted hydrocarbon production growth rate of between 6% and 10% per annum from now until 2015.

Voser sharpens axe for Shell

Anglo-Dutch supermajor Shell plans further cost cutting and  lay-offs in an effort to “sharpen” its performance and increase profits.

Oil holds as Opec steers steady ship

OIL prices were robust this week, ending on a positive note on Wednesday due to a weak US  dollar and after Opec decided to keep output targets steady.

Qatar cool on LNG demand downturn

Gas superpower Qatar is not alarmed over threats to its liquefied natural gas exports from a downturn in global demand and is keeping open the option of  further developing its massive North Field reserves once a self-declared ban ends in 2014, Qatari Oil Minister Abdullah al-Attiyah told Upstream.

Nisconi clean sweep at South Mahakam

Japan’s Nippon Steel is poised to land all four turnkey contracts valued at more than $200 million in total at Total’s South Mahakam gas and liquids development off Indonesia.

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Ecopetrol takes US Gulf stake

Colombia's state oil company Ecopetrol has signed a deal with Anglo-Dutch supermajor Shell to explore two offshore fields in the Gulf of Mexico, its US unit Ecopetrol America said today.

Upstream staff 12 December 2007 22:48 GMT

Ecopetrol said it had signed a participation agreement with Shell and Newfield Exploration to explore blocks 777 and 778 in the Garden Banks area of the Gulf.

Shell will operate the fields with a 65% stake, while Ecopetrol will have 25% interest and US company Newfield a 10% stake in the deal, Reuters reported.

Ecopetrol said the Gulf of Mexico deal forms part of its international expansion plans.

Published: 12 December 2007 22:48 GMT | Last updated: 12 December 2007 22:48 GMT

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news from other nhst publications

CNOOC Ltd broadens horizons

Voser sharpens axe for Shell

Oil holds as Opec steers steady ship

Qatar cool on LNG demand downturn

Nisconi clean sweep at South Mahakam

Ecopetrol takes US Gulf stake

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