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CNOOC Ltd

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  • *Rising output largely due to CNOOC and smaller producers. BEIJING, July 3- China's crude oil output looks set to rise this year from a record in 2014 as new production from third largest producer CNOOC helps to counter reductions from its two bigger rivals. While there is no official Chinese production outlook, information from the biggest state oil companies...

  • *Appomattox project set to start production by end of decade. LONDON, July 1- Royal Dutch Shell has given the green light for the development of its largest platform in the Gulf of Mexico after making steep cost cuts which made the deep water project economical despite low oil prices. The decision to pour billions of dollars into the Appomattox project comes as...

  • A statement published on the state-run Petroleum Exploration and Production Department website showed the 17 companies are from 11 countries including the United States, Russia, China and Africa's largest oil producer, Nigeria. London- listed Tullow Oil, which is already operating in Uganda alongside France's Total and China's CNOOC, was also on the PEPD...

  • LONDON, July 1- Royal Dutch Shell has given the green light for the development of the Appomattox deepwater oil and gas field in the Gulf of Mexico, set to be the energy giant's largest floating platform in the region. Shell holds a 79 percent stake in the project while Nexen Petroleum, a wholly owned subsidiary of China's CNOOC, holds the remaining 21 percent.

  • NAIROBI, June 18- Kenya and Uganda could decide by mid-July on the route for a crude pipeline linking their newly found oil fields to the Kenyan coast, a vital step for oil firms to make a final investment decision, a senior Kenyan ministry official said. Oil executives say they cannot make progress with their final investment decision on developing discoveries...

  • BEIJING, June 8- China's oil imports fell about 11 percent in May from a year ago in the steepest drop since November 2013, likely knocking the country off its perch as the world's top crude buyer- a spot it claimed for the first time in April. Lower imports by China, at a time when markets are expected to be oversupplied following OPEC's decision to keep its output...

  • *Seven oil and gas discoveries made in recent weeks. LONDON, May 29- Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer little respite to a sector that remains severely bruised by the oil price slump. Seven successful discoveries with potential to become commercial have...

  • *Seven oil and gas discoveries made in recent weeks. LONDON, May 29- Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer little respite to a sector that remains severely bruised by the oil price slump. Seven successful discoveries with potential to become commercial have...

  • HONG KONG, May 14- Hong Kong's benchmark share index ended slightly higher on Thursday after Tencent Holdings Ltd, China's biggest social network and online entertainment firm, posted higher-than-expected first-quarter revenues and earnings. Tencent jumped over 3 percent, supporting the Hang Seng index. Separately, China's two largest developers in the...

  • Uganda's 'oil rush' town stuck in the slow lane Sunday, 10 May 2015 | 5:00 AM ET

    *'Oil town' property prices soar as boom takes hold. HOIMA, Uganda, May 10- Before the discovery of large amounts of oil in Lake Albert, Hoima was a forlorn and remote town in Western Uganda, whose main sources of income were farming and the trickle of tourists heading to nearby national parks. "Everybody in the country and the region is looking at Hoima," said Betty...

  • *'Oil town' property prices soar as boom takes hold. HOIMA, Uganda, May 10- Before the discovery of large amounts of oil in Lake Albert, Hoima was a forlorn and remote town in Western Uganda, whose main sources of income were farming and the trickle of tourists heading to nearby national parks. "Everybody in the country and the region is looking at Hoima," said Betty...

  • CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The company, which has a 37 percent stake in the Syncrude project, said its net loss was C $186 million, or 38 Canadian cents per share, compared with a net...

  • Canadian Oil Sands posts loss, says cost cut paying off Thursday, 30 Apr 2015 | 4:50 PM ET

    CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The other Syncrude partners are Imperial Oil Ltd; Mocal Energy; Murphy Oil Corp; Nexen, a wholly owned subsidiary of China's CNOOC Ltd; Sinopec and Suncor...

  • *CNOOC, China Southern Power Grid execs being probed. CNOOC could also not be reached for comment. China's president, Xi Jinping, has warned that corruption threatens the survival of China's ruling Communist Party and his two-year anti-graft campaign has brought down scores of senior officials in the party, the government, the military and state-owned...

  • March 26- Hong Kong shares finished lower on Thursday in line with most Asian markets, which dropped due to tension in the Middle East and losses on Wall Street. But oil giants CNOOC and PetroChina bucked the trend, rising 1.5 percent and 0.9 percent respectively, as oil prices shot up nearly 6 percent after Saudi Arabia and Gulf Arab allies started air strikes...

  • SINGAPORE, March 19- Iraq has notified its exploration partners that it plans to start splitting its southern Basra oil production into two grades due to quality differences, and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Holders of technical service contracts include Lukoil, Petronas, CNPC, CNOOC, BP,...

  • SINGAPORE, March 19- OPEC's second largest producer Iraq has notified its partners that it plans to start splitting its southern oil production into two grades and offer a heavier type of crude from May onwards, sources with knowledge of the matter said on Thursday. Iraq's State Oil Marketing Organization said it will allocate Basra Heavy crude, with an API...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, has begun to cut some 340 employees in North America, and started...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, will cut approximately 340 employees in North America and 60 at its UK...

  • LAUNCESTON, Australia, Feb 27- The market chatter over forming a giant Chinese oil major through merging PetroChina and Sinopec has ramped up again recently, but the motivations for such a deal struggle to stand up to scrutiny. The Chinese authorities are mulling joining China National Petroleum Corp, the parent of PetroChina, and China Petrochemical Corp, the...