Cnooc Ltd said that net income probably more than doubled in the first nine months of the year, as Chinaโs biggest offshore oil and gas driller continues to reap the benefit of higher energy prices.
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
Cnooc Ltd jumped as much as 44% in its first day of trading in Shanghai as mainland investors leaped at the chance for exposure to soaring oil and gas prices.
Cnooc Ltd, Chinaโs biggest offshore oil and gas driller has officially cut its ties with the New York Stock Exchange following a geopolitical spat with the US.
Chinaโs CNOOC Ltd today said that the countryโs โfirst offshore large-sized independent deep-water gas fieldโ named Lingshui 17-2 has started production. The development, which CNOOC claims includes the worldโs first 100,000 ton semi-submersible platform, underscores the advancement of Chinaโs deep-water technical knowhow.
The Lake Albert development, including export pipeline, will cost $15 billion with contracts expected to be dished out following final investment decision (FID) on April 11.
S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
Nigerian National Petroleum Corp. (NNPC) has signed a heads of terms with Cnooc Ltd and South Atlantic Petroleum (Sapetro) to bring to an end a dispute on OML 130.
Uganda and Tanzania are pushing ahead with their plans for the East African Crude Oil Pipeline (EACOP) despite Totalโs decision to put work on hold, following the breakdown of talks on the sale of Tullow Oilโs Ugandan stakes.