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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End of the line: the Turkish port of Ceyhan
The BP-led Baku-Tbilisi-Ceyhan oil pipeline is expected to pump around 820,000 barrels per day in November, down from 852,000 bpd this month, according to reports.
The November programme includes 16 of the 800,000-barrel cargoes with a total of 24.6 million barrels loading in the month, according to a copy of the loading schedule, a source told Reuters.
| Dominion sells off E&P business for $3.5bn |
| Takeover talk boosts BG |
| Songa files for bankruptcy |
| Total primes Laggan-Tormore kick-off |
| Wintershall plans $4bn spend |
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