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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Where the action is: Colombia

Black Rock strikes Las Quinchas deal

AIM-listed Black Rock Oil & Gas settled a deal which will see it push ahead with the development of the Las Quinchas Association contract in Colombia's Middle Magdalena Valley.

Upstream staff 27 February 2008 10:11 GMT

Canada's Prospero Hydrocarbons will invest up to $4 million in return for a 49% stake in Las Quinchas Resource Corporation, which now holds Black Rock's interests in the contract, it said in a release.

Prospero's management will also help with technical evaluations and a Prospero nominee will join the Black Rock board.

Published: 27 February 2008 10:11 GMT | Last updated: 27 February 2008 10:11 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

Black Rock strikes Las Quinchas deal

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