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.
Anglo-Dutch supermajor Shell plans further cost cutting and lay-offs in an effort to “sharpen” its performance and increase profits.
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.
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.
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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Slowdown: off Norway last month
Norway's oil production fell to a preliminary 2.209 million barrels per day on average in December from 2.212 million bpd in November, the Norwegian Petroleum Directorate said today.
Production of natural gas liquids and condensate fell to a preliminary 347,000 bpd in December from 391,000 bpd in November, the directorate said in a statement.
| Dominion sells off E&P business for $3.5bn |
| Takeover talk boosts BG |
| Total primes Laggan-Tormore kick-off |
| Wintershall plans $4bn spend |
| Songa files for bankruptcy |
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