China is rushing to keep an oil spill from reaching international waters. Crude oil was released into the Yellow Sea in the port of Dalian after a series of explosions on pipelines owned by China National Petroleum Corporation (CNPC) offloading oil into a storage facility. While government leaders have said the spill is under control [...]
PetroChina and BP claimed that the two are conducting a joint assessment of a “huge” coalbed methane deposit in Xinjiang, according to an announcement from PetroChina’s parent company China National Petroleum Corp’s (CNPC) website. While CNPC was withholding of details on the project, it said that the Tuha deposit heralded a “new stage of cooperation” [...]
China National Petroleum Corporation, China’s largest petroleum and gas producer, will accelerate its new energy production to an annual oil-equivalent production capacity of 1.25 million tons in 2010. The company’s development of coalbed methane, fuel ethanol and oil sands will enable a capacity increase of up to 6 million tons of oil equivalent within the next [...]
China National Petroleum Corp (CNPC) and Royal Dutch Shell have agreed to jointly develop a natural gas project in Sichuan province over a period of 30 years. The gas deposits in the 4,000 square-kilometer Jinqiu block are expected to produce 2-3 billion cubic meters of gas a year, with Shell taking the larger share as [...]
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 [...]
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 [...]
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. [...]
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, [...]
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 [...]
(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 [...]
