cnooc

CNOOC said it would continue to look for overseas acquisition opportunities but did not mention any specific target.

Cnooc President Fu Chengyu said the agreement will help the company secure cleaner energy to support China's economic development.

Cnooc and GNPC 'plan to make a strong counter bid in the next few days, ' said one person familiar with the matter.

Cnooc spokesman said he was not familiar with the matter. Exxon and BP declined to comment.

One key concern was the fact that there was no explicit guarantee from CNOOC's parent for the funds parked in CNOOC Finance.

No doubt aware of these concerns, CNOOC and its subsidiary chose the Norwegian deal carefully.

A Cnooc spokesman said he was not familiar with the matter.

He said he wasn't sure exactly how much crude Cnooc was vying for, but that targeted investment would run into several billion dollars.

Pipeline Engineering & Construction Company is one of the professional service branches of CNOOC energy technology & services Co. , Ltd.

From now on, CNOOC will acquire stakes in assets rather than buying an entire company, Fu Chengyu, chairman of the company, said earlier.

And, as it found two years ago, when CNOOC's bid for Unocal was blocked by the US government, having one's money sniffed at is no fun.

CNOOC came back to the United States in recent months as well with joint venture investments in Chesapeake Energy Corp shale projects.

The failure of CNOOC's bidding was only one of the latest cases, which demonstrated Chinese enterprises' frustration of merge overseas.

Thanks to aggressive exploration and steady growth in both upstream and downstream businesses, CNOOC stock grew aggressively as well.

And CNOOC has signed a production-sharing deal with the transitional government in Somalia, one of the world's most volatile countries.

In mid-April both parties agreed that the terms of the original agreement would be extended, giving Cnooc about 25 per cent in the venture.

CNOOC is braving insecurity and political uncertainty as an insurgency against the interim government continues in Mogadishu, the capital.

"This latest management reshuffle is positive for Cnooc in the long run, " said Gordon Kwan, energy analyst at Mirae Asset Securities.

CNOOC has been thwarted in some of its recent attempts to do deals. It failed to secure stakes in large offshore fields in Angola and Ghana.

A month earlier, Chinese oil-exploration company Cnooc paid more than $3 billion for a stake in a major Argentinian oil-exploration company.

China Mobile, China Netcom and CNOOC are expected to be among the first batch to list in the mainland bourses, according to the report.

Cnooc board secretary Xiao Zongwei declined to comment. 'We don't comment on market rumors, ' he said.

Both Cnooc and CNPC have been looking to buy the Argentinean part of Repsol YPF SA since at least August, bankers and analysts say.

CNOOC, one of China's big three energy groups, has made a pitch to prise Nigerian oil blocs away from western oil majors.

When it comes to acquisitions, Cnooc says it has three criteria: deals must be opportunistic, good value and not too risky.

Cnooc did a similar deal with Chesapeake in October for a stake in a shale oil and gas project in Texas.

Cnooc has yet to acquire regulatory approval for the deal, but analysts said it should not be a hurdle.

Pan American made about $3. 50 per barrel in net income in the first half, on JPMorgan's calculations, one-sixth that of Cnooc.

Back in 2005, Cnooc tried to dive head first with an ambitious $18. 5 billion bid to take over California's Unocal Corp.

Already Chinese companies such as Lenovo, Haier and CNOOC are beginning to compete with leading multinationals.

CNOOC said that some of the downstream aspects of the project, including signing agreements with end- users, had still to be resolved.

The muted response this time is partly because Cnooc is only dipping its toes into American water with a modest investment.

By contrast, CNOOC, China's offshore producer, was never directly part of the government, although its parent group is still state-owned.

On the basis of our good social image and resource superiority, our company has established long term partnerships with CNOOC and CSPC.

Last week, executives from CNOOC and Huawei were on a charm offensive on the U. S. West Coast.

Unlike Cnooc's takeover, Sinopec is entering a joint venture. Chesapeake will retain operational control of the Mississippi Lime field.

CNOOC and Shell as the core to a radius of 200 km of the regional industry will be a direct radiation.

Nigerian officials suggest CNOOC may emerge with only a fraction of the reserves it covets.

On this stretch, look out especially for the new headquarters of CNOOC, China's national offshore oil company.

Cnooc Chairman Fu Chengyu said Sunday his company is looking cautiously at such acquisitions due to protectionist concerns.

All this while its smaller rival, CNOOC, is also sniffing around.

Repsol declined to comment directly on CNOOC, but said of the other approach: "We're not in any formal discussions with CNPC. "

A government spokesman said that Cnooc's actions "seriously violated" Vietnam's sovereign rights and should be "immediately cancelled" .

He said other oil groups were investing in the countries that Chinese companies, such as CNOOC, were moving into.

Cnooc, and Beijing, also must weigh the benefits of 'securing' supply from a fissile country that also is subject to an OPEC quota.

In doing so, CNOOC and its smaller partner, China International Oil and Gas, are gambling on three points.

CNOOC has agreed to buy 3. 6m tonnes of LNG a year for 20 years and is taking small stakes in BG's LNG plant and some of its gas fields.

Observers say the change in leadership was signalled in May, when Sasac announced five promotions within CNOOC.

Oil Corporation (CNOOC) to jointly develop a range of opportunities in oil and gas exploration and production and gas marketing.

CNOOC Energy Technology & Services-Supervision & Technology Co.

Therefore, CNOOC's proposed drilling fracturing with reasonable sanding recovery method.

Beijing's concerns date from the failed 2005 purchase by CNOOC, a state energy company, of Unocal, a US oil and gas company.

Cnooc's softly-softly approach should work out better this time, when it comes to getting regulatory approval.

He added: "You have to wonder if [the decision] isn't pay-back for resistance that Cnooc faced when it tried to acquire Unocal. "

The National Iranian Oil Company has signed a memorandum of understanding with China's CNOOC to develop the North Pars gas field.

Cnooc will focus on "cooperation" to boost its overseas output, Fu told reporters at the media briefing.

It includes the huge power company CNOOC, which runs the country's largest nitrogen fertiliser factory in Hainan's Dongfang City.

Cnooc sent a senior delegation of officials to the Ghana capital of Accra a couple weeks back, including Cnooc Chairman Fu Chengyu.

Once America erected protectionist walls, Cnooc began its grand engagement with Africa.

One senior Cnooc executive admits: "Argentina has a tough fiscal regime. But that even happens in Australia. "

CNOOC in Beijing last week declined to comment on any aspect of the deal over exploration rights.

They include China Mobile, the world's biggest mobile phone company by subscribers, and Cnooc, the state-controlled oil group.

Four years ago China National Offshore Oil Corporation caused a mighty rumpus when it launched a bid for California's Unocal.

China National Offshore Oil Corp, the state-owned oil company, raised $2bn through an investment-grade dollar bond in January.

However, CPC said further talks with CNOOC were necessary because the Chinese company had not yet decided whether to go ahead.

CNOOC, a Chinese oil firm, announced that it is paying $3 billion for a 50% stake inBridas, a privately owned Argentinian oil and gas group.

State-owned CNOOC lifted production forecasts and spending this year to meet the country's hunger for oil.

At CNOOC, Mr Fu will be replaced by Yang Hua, currently president and chief financial officer, but will remain as chairman.

Let's lay to rest the notion that CNOOC is just another company that responds to world energy prices.

The thesis uses evidence-based practice to express the significance of Deng's theory for CNOOC's progress.

Building the harmonious CNOOC by a scientific and developing way.

CNOOC Energy Technology & Services-Oil Production Services Co.

Instead, Cnooc conducted parallel talks with GNPC, which hired Morgan Stanley to advise it.

Yang Hua, Cnooc's chief executive, said: "In the next few years, we will be more proactive on exploration investments. "

In September 1999, Mr. Fu was appointed Executive Director, Executive Vice President and Chief Operating Officer of CNOOC Ltd.

This follows a shale-gas deal between China's Cnooc Ltd. and U. S. -based Chesapeake Energy Corp. in January.

The heads of some of China's most vital state-owned companies, including oil giant CNOOC, also studied abroad.

It is unclear whether Cnooc is offering to fund and build more non-oil projects in the latest round of contract negotiations.

Chinese regulators are preparing to file a lawsuit over two oil leaks at a ConocoPhillips and Cnooc Ltd (883).

CNOOC is eager to expand its reserves to meet increasing domestic demand.

However, Cnooc was not among them, people close to the Chinese company said.

Buying Awilco will give CNOOC additional rig capacity to deploy in the waters of Bohai Bay and the South China Sea.

Prior to the proposed Cnooc-Unocal deal, Cnooc hardly had any investments in Africa.

A person familiar with Cnooc says the deal's structure is partly a result of lessons learnt from the failed Unocal bid.

Cnooc and Sinopec are also considering a bid for stakes in OGX, a Brazilian oil and gas company.

The CNOOC offer marks a step change in that quest, even if the Chinese only obtain a fraction of what they want.

The first offshore multiwave and multicomponent seismic experiment has been made by CNOOC.

CNOOC, a state-owned firm, owns 51% of the venture.

Opti Canada was in bankruptcy and its price is just $34m cash plus $2bn in debt, raising Cnooc's proven reserves by 5 per cent.

In October, CNOOC paid $1. 1 billion for a stake in Chesapeake Energy's (CHK, Fortune 500) Eagle Ford shale project in South Texas.

The deal came on the heels of Cnooc and Bridas's agreement to pay $7bn for BP's 60 per cent stake in Argentina's Pan American Energy.

The venture is CNOOC's first foray into the overseas biofuel sector.

Cnooc saw its stock drop sharply this week after it estimated its share of lost output at slightly more than 60, 000 barrels a day.

In reply, last week Cnooc told Migas it would withdraw.

If one company epitomizes the concern of Australian regulators, it is CNOOC itself.

CNOOC dropped its bid for Unocal after uproar in Congress and the media, even though the target company's assets were outside the US.

Cnooc's first-half profit beat the median estimate of 11. 5 billion yuan in a Bloomberg News survey of seven analysts.

China National Offshore Oil Corp. , known as CNOOC, fell 2. 3 percent.

The other incoming farm-in partner is the Chinese company, Chinese National Offshore Oil Corporation (CNOOC).

HAINAN CNOOC TRANSPORT SERVICE COMPANY LTD.

Cnooc is betting Argentina's energy tax policies may change soon.

Some analysts said that Kosmos may not be willing to sell because it deems the price offered by GNPC and Cnooc too low.

Bridas, an Argentina-based oil and gas group, is jointly owned by Cnooc of China and Argentina's Bulgheroni family.

CNOOC plans compensation fund after oil spill .

The latest statement doesn't necessarily mean Cnooc will become more hands-on than it already was.

That leaves a lot of production to add if Cnooc wants to meet its five-year target.

Oil company CNOOC has also bought an exceptionally large amount of mineral rights in the state in order to extract shale oil.

The Cnooc bond was issued in two tranches with maturities of 10 and 30 years, for instance.

First, Chinese firms are becoming more respectable: some, such as CNOOC, Baosteel and Lenovo, are among their industries' global elite.

In Nigeria, CNOOC paid $2. 3bn for a 45 per cent stake in Nigeria's Akpo field, reflecting its desire to learn deep-water techniques.

Cnooc, China's largest offshore oil and gas producer, will pay $34m to Opti's shareholders, equal to 12 cents a share.

Cnooc's abortive bid for Unocal, the US oil group, in 2005 has lingered in Chinese memories.

Production may reach 329 million barrels of oil equivalent this year, surpassing Cnooc's target of as much as 290 million.

CNOOC reported net profits up 110 per cent at RMB26bn for the first half of this year.

If one company epitomises the concern of Australian regulators, it is CNOOC itself.

China's state-owned Cnooc agreed in July to acquire Opti Canada, a bankrupt oil sands producer, for C$2. 1bn.

In return, Cnooc will get an assured supply of LNG for 20 years at an undisclosed rate.

ConocoPhillips has a 49 per cent stake in the field and Cnooc, China's offshore oil and gas company, has a 51 per cent stake.

If western oil groups are unwilling to match CNOOC's offer, that may be because they price in risks they know too well.

Only four years ago, America's government barred CNOOC, PetroChina's sister company in China's energy oligopoly, from investing in Chevron.

In many ways, Cnooc is BG's mirror image in the east.

PetroChina and Cnooc reported record years in 2010.

It took until August 12th for CNOOC to apologise (in Chinese).

Cnooc had already spent $3. 1bn on 50 per cent of Bridas, a private energy company, and called the deal "a beachhead in Latin America" .

Is there a flow assurance group in CNOOC?

Cnooc's cash offer of $27. 50 a share represents a 61 per cent premium to Nexen's Friday closing price in New York.

CNOOC said its average daily production is expected to climb by 46, 000 barrels.

But this is Cnooc's fifth big deal of the past 12 months, suggesting a growing impatience in Beijing to secure supplies.

CNOOC and BP declined to comment.

Beijing was upset in 2005 when congressional opposition forced state-run Cnooc Ltd. to withdraw its bid to buy Unocal, a U. S. oil firm.

About 83 percent of Cnooc's reserves are off China's coast.

Yet in 2010, Cnooc acquired oil-and-gas assets in the Eagle Ford Shale project in South Texas for $1. 1 billion.

Its largest positions include ChinaYuchai International Ltd. , down 32%, and Cnooc Ltd. , down 1. 3%.

Cnooc has also agreed to buy 5% of BG's interests in certain coal-seam gas tenements in Queensland's Surat Basin.

The Chinese state-owned oil company, CNOOC, is also an investor in the project.

A squirrel-cage crude oil electrical dewaterer is designed based on the characteristic of CNOOC QHD3-26 crude oil.

Cnooc is developing oil and gas fields off China's coast but also needs to secure supplies overseas.

China has already encountered pushback, as when oil giant Cnooc sought to buy Unocal in 2005.

CNOOC bought half of Bridas for $3. 1 billion in March.

For example, Cnooc Ltd. will add more safety devices on its drilling equipment, Moody's says.

Remember what happened when Cnooc tried to buy California's Unocal Corp. for $18. 5 billion in 2005.

After CNOOC was blocked by Washington from buying Unocal last year, no American should dare lecture Beijing about free markets.

CNOOC, China's biggest offshore oil producer, advanced 1. 6 per cent to HK$12. 82.

Shares of Cnooc rose 1. 4 percent to HK$17. 12 at 3: 48 p. m. local time, compared with the 1 percent gain in the benchmark Hang Seng Index.

Cnooc has gained 43 percent in Hong Kong trading this year as an expanding economy boosted fuel consumption.

Cnooc rose 15 per cent to HK$9. 35.

CNOOC jumped 6. 3 per cent to HK$13. 90 as oil prices neared an 18-month high.

Cnooc, which spent $9. 9bn last year on oil and gas investments, said that its expenditure would "continue to rise" .

CNOOC Ltd is CNOOC's flagship branch company listed on the New York Stock Exchange and the Stock Exchange of Hong Kong Limited.

Cnooc share prices in Hong Kong are down 12 per cent this week from their Friday close.

Net income fell 55 percent to 12. 4 billion yuan ($1. 8 billion) in the first half, Cnooc said in a statement in Hong Kong yesterday.

CNOOC reported record net profits of Rmb30. 9bn ($4bn) last year, up 22 per cent from 2005.

Cnooc reported net income of Rmb54. 4bn last year, up 85 per cent on 2009.

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