The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
Transparency in reporting is producing results, with most operators showing year on year improvements towards gender balance. We encourage all employers to publish their data without delay, and use it to drive their action plans. With metrics like the median pay gap (-3% to 46%), percentage of women at the top (5% to 35%) and percentage of women overall (11% to 41%) varying massively between organisations, it’s clear balance is attainable within our industry but it takes sustained determination at all levels of leadership.
Russian gas independent Novatek is set to export more than 3 million tonnes per year (t/y) of LNG to China from the Arctic LNG 2 project as part of its latest deal with Shenergy Group.
Prosafe has signed a £6.1 million contract with CNOOC for the charter of the Safe Boreas accommodation vessel at the Buzzard platform in the UK North Sea.
Westwood Global Energy reports that as of February 24 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
Profits dropped more than 70% for engineering services giant Worley during the first half of its 2021 financial year.
China Oilfield Services Limited (COSL) is expected to have another solid year in 2021 as offshore capital spending is set to surge to record levels in China.
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Westwood Global Energy reports that as of 1 February there was one exploration well and one appraisal well active in the UK, with no change since the last report.
China National Offshore Oil Company (CNOOC) has awarded a two-year North Sea contract to engineering services firm Worley.
More than a dozen workers are in quarantine after a crew member on the Premier Oil Balmoral platform tested positive for Covid-19.
North Sea operator CNOOC is working to tackle a Covid outbreak on board its Scott platform.
China’s biggest offshore driller is being targeted in the final days of President Donald Trump’s administration for its activity in the South China Sea.
Chinese oil majors may be next in line for delisting in the US after the New York Stock Exchange said last week it would remove the Asian nation’s three biggest telecom companies.
Westwood Global Energy reports that as of December 28 there was one exploration well and one appraisal well active in the UK.
North Sea giant Chrysaor will adopt the name of its backer once it completes the reverse takeover of Premier Oil early next year.
Guyana is the world’s most exciting frontier oil and gas exploration area. There’s a lot of oil, it’s good quality and it’s relatively cheap to produce. It has attracted a host of major players, including Hess, CNOOC, Total, Repsol, Qatar Petroleum, Tullow and, above all, ExxonMobil.
The achievements of the UK oil and gas industry’s leading lights were celebrated in a virtual awards ceremony last night.
Exploration and production firm CNOOC has turned to an online resource managed by the UK oil sector’s regulator for help unlocking a North Sea project which is at risk of being left “stranded”.
Westwood Global Energy reports that as of December 2 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. At the time of writing, the first appraisal well of the year was preparing to spud.
The Pentagon added CNOOC among four more Chinese companies to a list of firms it says are owned or controlled by China’s military, exposing them to increased scrutiny and potential sanctions by the US.
CNOOC, China’s third-biggest oil company faces a US blacklist, which could spur major outflows from its Hong Kong-listed unit, after years of involvement in offshore drilling in disputed South China Sea waters.
The West of Shetland oil and gas (WoS) basin has long been held aloft as the UK’s last great hope for indigenous oil and gas production growth.