The Chinese oil transportation, storage and trading firm gained around 11,000 barrels of oil equivalent per day in production with the deal tobuy the US independent’s 35% stake in the shallow-water Caofeidian fieldcomplex off northern China.
Joining the China National Oil Corporation-operated complexwill boost Brightoil Petroleum’s efforts to turn around from booked losses inexcess of $90 million in its past two results, senior analyst MarkYoung of London-based Evaluate Energy said.
“Bolstering
