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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Court rejects Novatek stake bid

A Russian court has rejected an attempt to annul the sale of a stake in gas producer Novatek by the Yamal Regional Development Fund, according to local media reports.

Upstream staff 05 July 2005 06:55 GMT

In May, prosecutors from the Yamalo-Nenetsk district in May filed claims against the sale of a 5.6% stake in Novatek to state-run lender Vnesheconombank on the grounds that the fund was established illegally in the 1990s, a report in Moscow-based business daily Vedomosti, published today, claimed.

Published: 05 July 2005 06:55 GMT | Last updated: 05 July 2005 06:56 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

Court rejects Novatek stake bid

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