Kazakhstan is hoping to strike a deal with some of the world’s largest oil producers on restraining its crude production due to a need to crank up output at its Kashagan field.
China National Petroleum
Abu Dhabi National Oil Co. awarded a stake in its largest oil concession to China National Petroleum Corp. as the Middle East emirate brings in more foreign investors to raise crude production capacity.
PetroChina, the country’s biggest oil and gas producer, and China’s largest offshore explorer Cnooc, may write down assets following crude’s plunge, analysts say.
BP has signed a multibillion dollar deal to supply liquefied natural gas to China Huadian Corporation over two decades.