China National Petroleum Corp mounted aggressive bids for Iraq’s oil fields in Baghdad over the weekend.
CNPC, along with Malaysian state-owned oil giant Petronas, were part of consortium that won four out of ten contracts handed out by the Iraqi government in an auction that was notable for its absence of US companies. Only one US [...]
France’s Total SA and China National Petroleum Corp (CNPC) will jointly bid for two large oil blocks being auctioned in Venezuela.
The Sino-French group’s bid includes the building of upgraded processing facilities; sources put the cost of developing just one of the two blocks at US$7-10 billion. Should the Total-CNPC bid be successful, Total would operate [...]
China National Petroleum Corp (CNPC) is seeking to revive a failed bid for the Argentinian unit of Spanish energy firm Repsol-YPF in a deal that could be worth up to US$17 billion.
CNPC may attempt to buy up to three-quarters of YPF, while rival CNOOC is said to be interested in buying a 25% stake.
This has [...]
Conscious of limited choice and political strife, China is taking a multi-faceted approach to acquiring overseas oil and gas assets.
With US$19.5 billion on offer, Aluminum Corp of China’s investment in Anglo-Australian miner Rio Tinto was poised to become a landmark event in Beijing’s quest for natural resources. But over the course of three months, everything [...]
China National Petroleum Corp (CNPC) has signed an agreement with National Iranian Oil Company (NIOC) to develop part of the South Pars gas field.
According to NIOC Managing Director Seyfollah Jashnsaz, the deal to develop phase 11 of the upstream sector of the oil field is worth approximately US$4.7 billion. The aim of the project is [...]
(Reuters) China National Petroleum Corp (CNPC) and Iraq inaugurated a US$3 billion oil project yesterday in Iraq’s south-eastern Wasit province.
The project, the first deal between Iraq and a foreign oil firm since the fall of Saddam Hussein, is expected to produce up to 130,000 barrels of oil daily.
CNPC had originally signed the contract to operate [...]
China and Russia are in discussions to build a US$4 billion oil refinery in Tianjin. The refinery, to be built by China National Petroleum Corp (CNPC) and Russia’s OAO Rosneft, would have an annual refining capacity of 10 million tons of crude oil. CNPC declined to comment on the deal, which is expected to be [...]
China National Petroleum Corp (CNPC) will buy Verenex Energy, a Canadian company that holds oil assets in Libya, for US$400 million. Verenex said CNPC will pay C$10 (US$7.97) per share, which represents a 28% premium on the company’s closing price on the Toronto Stock Exchange Wednesday. CNPC’s offer is subject to certain conditions, including the [...]
China Petroleum & Chemical Corp (Sinopec), China National Offshore Oil Corp (CNOOC) and China National Petroleum Corp (CNPC) are each hoping to be chosen to lead a bid for a West African oilfield. The sale of an oilfield off the coast of Ghana, the principal asset of unlisted US-based Kosmos Energy, could fetch more than [...]
China and Iran have signed a US$1.76 billion deal to design Iran’s North Azadegan oilfield, according to Iran’s state news agency. The project will be jointly developed by China National Petroleum Corp (CNPC) and National Iranian Oil Co. China’s foreign ministry spokeswoman Jiang Yu said the two countries have a normal working relationship on energy [...]
