China National Offshore Oil Corporation http://www.globalpost.com/taxonomy/term/32364/all en US greenlights CNOOC takeover of Nexen http://www.globalpost.com/dispatch/news/afp/130212/us-greenlights-cnooc-takeover-nexen <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Beijing-based energy giant CNOOC has received US approval for its takeover of Canadian oil producer Nexen, surmounting the last hurdle to closing the deal, Nexen announced Tuesday.</p> <p>US approval was needed because of Nexen's oil assets in the Gulf of Mexico.</p> <p>With the blessing of the Committee on Foreign Investment in the United States in hand, CNOOC "now has all of the requisite approvals to proceed to close," said a statement.</p> <p>The transaction is expected to close the week of February 25.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130212/us-greenlights-cnooc-takeover-nexen" target="_blank">read more</a></p> China National Offshore Oil Corporation Economy of Canada S&P/TSX 60 Index AFP Tue, 12 Feb 2013 20:00:06 +0000 5753835 at http://www.globalpost.com Hong Kong shares may open higher on China http://www.globalpost.com/dispatch/news/thomson-reuters/130217/hong-kong-shares-may-open-higher-china <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG, Feb 18 (Reuters) - Hong Kong shares are likely to rise on Monday as investors are expected to resume buying and consolidate their positions after mainland China markets return from the Lunar New Year break.</p> <p>Mainland China markets open on Monday after they were shut last week. On Friday, the Hang Seng Index rose 0.1 percent and finished the holiday-shortened week up 1 percent.</p> <p>In other parts of Asia, Japan's Nikkei was up 1.8 percent, while South Korea's KOSPI edged 0.07 higher in early trade.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130217/hong-kong-shares-may-open-higher-china" target="_blank">read more</a></p> Business China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Law Technology Thomson Reuters Mon, 18 Feb 2013 01:30:30 +0000 5758595 at http://www.globalpost.com Sinopec buys $1bn US shale stake from Chesapeake http://www.globalpost.com/dispatch/news/afp/130225/sinopec-buys-1bn-us-shale-stake-chesapeake <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant Sinopec is investing $1.02 billion in a US shale field as it teams up with Chesapeake Energy Corp. in a 50-50 joint venture, the companies said Monday.</p> <p>China Petroleum &amp; Chemical Corp. (Sinopec) will buy a 50 percent interest in Chesapeake's 850,000 acres in Mississippi Lime shale in northern Oklahoma, they said in a joint statement.</p> <p>The two companies will share the costs of all future exploration and development, while Chesapeake will be in charge of leasing, drilling and operations and marketing activities.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130225/sinopec-buys-1bn-us-shale-stake-chesapeake" target="_blank">read more</a></p> Chesapeake Energy Chesapeake Energy Corp. China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Technology AFP Mon, 25 Feb 2013 16:30:21 +0000 5766129 at http://www.globalpost.com Chinese oil giant CNOOC buys Canada's Nexen http://www.globalpost.com/dispatch/news/afp/130225/chinese-oil-giant-cnooc-buys-canadas-nexen <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The Chinese oil giant CNOOC completed its $15.1 billion purchase of Canada's Nexen energy group on Monday, in what analysts have said is China's largest foreign investment.</p> <p>Canada gave the green light in December, as did the United States, which had to approve the deal because of Nexen's activities in the Gulf of Mexico.</p> <p>Nexen confirmed the completion of the acquisition in a statement, noting that its shareholders had received $27.50 per share, a gain of $10 compared to the day before the announcement of the transaction in July.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130225/chinese-oil-giant-cnooc-buys-canadas-nexen" target="_blank">read more</a></p> Business Canada China National Offshore Oil Corporation Economy of Canada AFP Tue, 26 Feb 2013 01:16:34 +0000 5766546 at http://www.globalpost.com Sinopec buys stake in Oklahoma shale oil and gas field from Chesapeake http://www.globalpost.com/dispatch/news/agencia-efe/130226/sinopec-buys-stake-oklahoma-shale-oil-and-gas-field-chesapeake <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Beijing, Feb 26 (EFE).- Sinopec International Petroleum Exploration and Production Corp., China's second-largest oil company and largest refiner, said Tuesday it acquired a 50 percent stake in U.S.-based Chesapeake Energy Corp.'s oil and gas assets in northern Oklahoma.</p> <p>The $1.02 billion deal gives Sinopec 172,000 hectares (425,000 acres) in the Mississippi Lime shale play, the Chinese energy company said in a statement.</p> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130226/sinopec-buys-stake-oklahoma-shale-oil-and-gas-field-chesapeake" target="_blank">read more</a></p> Chesapeake Energy China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Technology Agencia EFE Tue, 26 Feb 2013 21:16:31 +0000 5767756 at http://www.globalpost.com Hong Kong shares close up 1.4 pct to eke out weekly gains http://www.globalpost.com/dispatch/news/thomson-reuters/130308/hong-kong-shares-close-14-pct-eke-out-weekly-gains <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>HONG KONG, March 8 (Reuters) - Hong Kong shares rose more than 1 percent on Friday, lifting both key indexes up for the week, with growth-sensitive counters buoyed by Wall Street's strength and an unexpected surge in Chinese exports.</p> <p>The Hang Seng Index closed up 1.4 percent at 23,092 points. The China Enterprises Index of the leading Chinese listings in Hong Kong climbed 1.5 percent. They each rose 0.9 and 1.2 percent, respectively, this week.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130308/hong-kong-shares-close-14-pct-eke-out-weekly-gains" target="_blank">read more</a></p> China National Offshore Oil Corporation Entertainment Hang Seng Index Constituent Stocks Hong Kong Thomson Reuters Fri, 08 Mar 2013 08:30:25 +0000 5776928 at http://www.globalpost.com CNOOC says 2012 net profit fell 9.3% http://www.globalpost.com/dispatch/news/afp/130322/cnooc-says-2012-net-profit-fell-93 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant CNOOC on Friday reported that 2012 net profit fell 9.3 percent, blaming higher operating costs -- including exploration -- and the poor global economy.</p> <p>The state-owned energy company said net profit for last year was 63.69 billion yuan ($10.25 billion), down from 70.26 billion yuan in 2011.</p> <p>Revenue rose 2.8 percent to 247.63 billion yuan from 240.94 billion yuan the previous year.</p> <p>The Beijing-based company attributed the fall in profits to the increased cost of searching for new wells and operating existing ones.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130322/cnooc-says-2012-net-profit-fell-93" target="_blank">read more</a></p> China National Offshore Oil Corporation Economy of Canada S&P/TSX Composite Index Technology AFP Fri, 22 Mar 2013 10:31:53 +0000 5790825 at http://www.globalpost.com CNOOC says 2012 net profit fell 9.3% http://www.globalpost.com/dispatch/news/afp/130322/cnooc-says-2012-net-profit-fell-93-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant CNOOC on Friday reported that 2012 net profit fell 9.3 percent, blaming higher operating costs -- including exploration -- and the poor global economy.</p> <p>The state-owned energy company said net profit for last year was 63.69 billion yuan ($10.25 billion), down from 70.26 billion yuan in 2011.</p> <p>Revenue rose 2.8 percent to 247.63 billion yuan from 240.94 billion yuan the previous year.</p> <p>The Beijing-based company attributed the fall in profits to the increased cost of searching for new wells and operating existing ones.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130322/cnooc-says-2012-net-profit-fell-93-0" target="_blank">read more</a></p> China National Offshore Oil Corporation Economy of Canada S&P/TSX Composite Index Technology AFP Fri, 22 Mar 2013 10:45:44 +0000 5790836 at http://www.globalpost.com Brazil qualifies 6 more companies for oil-licensing round http://www.globalpost.com/dispatch/news/agencia-efe/130413/brazil-qualifies-6-more-companies-oil-licensing-round <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>Rio de Janeiro, Apr 13 (EFE).- Brazil's ANP energy regulator has authorized six more companies to participate in an auction of offshore oil and natural gas exploration and production blocks.</p> <p>The six newly qualified companies bring to 44 the number registered to participate in the 11th oil-licensing round, scheduled for May 14-15, the ANP said.</p> <p>Angola's Sonangol Guanambi, China's CNOOC International, Colombia's Trayectoria Oil &amp; Gas, Brazil's UTC Oleo e Gas and Petra Energia and U.S.-based Hess Corporation were granted authorization on Friday.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.efe.com" class="button wire efe"></a></p> <p><a href="http://www.globalpost.com/terms-use#efe"><span>Copyright EFE, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/agencia-efe/130413/brazil-qualifies-6-more-companies-oil-licensing-round" target="_blank">read more</a></p> Angola Business China National Offshore Oil Corporation Sonangol Group Technology Agencia EFE Sat, 13 Apr 2013 19:01:20 +0000 5814952 at http://www.globalpost.com Exclusive: China in $5 billion drive to develop disputed East China Sea gas http://www.globalpost.com/dispatch/news/thomson-reuters/130717/exclusive-china-5-billion-drive-develop-disputed-east-china-sea <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Chen Aizhu</p> <p>BEIJING (Reuters) - Chinese state-run oil companies hope to develop seven new gas fields in the East China Sea, possibly siphoning gas from the seabed beneath waters claimed by Japan, a move that could further inflame tensions with Tokyo over the disputed area.</p> <p>Beijing had slowed exploration in the energy-rich East China Sea, one of Asia's biggest security risks due to competing territorial claims, but is now rapidly expanding its hunt for gas, a cheaper and cleaner energy to coal and oil imports.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130717/exclusive-china-5-billion-drive-develop-disputed-east-china-sea" target="_blank">read more</a></p> Asia China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Technology Thomson Reuters Wed, 17 Jul 2013 09:34:11 +0000 5886033 at http://www.globalpost.com China court rejects oil spill lawsuit http://www.globalpost.com/dispatch/news/afp/130814/china-court-rejects-oil-spill-lawsuit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>A Chinese court has dismissed a legal action against the State Oceanic Administration (SOA) for allowing US oil major ConocoPhillips to resume production after spills off northern China, an official said Thursday.</p> <p>"The conclusion of the case is dismissal," a member of staff at the Beijing No.1 Intermediate People's Court, who did not give her name, told AFP.</p> <p>The state-backed All-China Environment Federation launched an administrative misconduct lawsuit against the SOA last month.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130814/china-court-rejects-oil-spill-lawsuit" target="_blank">read more</a></p> China National Offshore Oil Corporation ConocoPhillips Disaster State Oceanic Administration Technology AFP Thu, 15 Aug 2013 03:31:36 +0000 5910296 at http://www.globalpost.com China's CNOOC H1 profit up 7.9% http://www.globalpost.com/dispatch/news/afp/130820/chinas-cnooc-h1-profit-79 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese state-owned energy giant CNOOC Tuesday said its first-half net profit rose 7.9 percent year-on-year, with the company citing an improving outlook for the world's major economies.</p> <p>Net profit for the six months to June 30 was 34.38 billion yuan ($5.61 billion), up from 31.87 billion yuan in the same period a year earlier, China's largest offshore oil and gas producer said in a filing to the Hong Kong stock exchange.</p> <p>CNOOC, the Hong Kong-listed unit of state-owned China National Offshore Oil Corporation, said revenue rose to 139.03 billion yuan from 118.27 billion.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130820/chinas-cnooc-h1-profit-79" target="_blank">read more</a></p> China National Offshore Oil Corporation Energy in China S&P/TSX Composite Index Technology AFP Tue, 20 Aug 2013 11:18:05 +0000 5913575 at http://www.globalpost.com China's Sinopec says H1 net profit up 24% http://www.globalpost.com/dispatch/news/afp/130825/chinas-sinopec-says-h1-net-profit-24 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant Sinopec said Sunday its net profit for the first half of 2013 grew 24 percent, thanks to improved refining margins after Beijing introduced reforms to fuel pricing. </p> <p>It said net profit for January-June was 30.28 billion yuan ($4.95 billion), compared to 24.50 billion yuan in the same period last year. </p> <p>Revenue rose 5 percent to 1.42 trillion yuan, it said in a filing to the Hong Kong Stock Exchange. </p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130825/chinas-sinopec-says-h1-net-profit-24" target="_blank">read more</a></p> China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Sinopec AFP Sun, 25 Aug 2013 14:30:39 +0000 5917407 at http://www.globalpost.com China oil giant Sinopec buys into Egypt for $3.1 bn http://www.globalpost.com/dispatch/news/afp/130830/china-oil-giant-sinopec-buys-egypt-31-bn <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant Sinopec will pay $3.1 billion for a one-third stake in the Egyptian oil and gas business of US firm Apache Corp. it said Friday, as China builds up its access to global energy reserves.</p> <p>The deal, which is still subject to regulatory approval, marks Sinopec's first entry into Egypt's upstream oil and gas sector, according to a company statement.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130830/china-oil-giant-sinopec-buys-egypt-31-bn" target="_blank">read more</a></p> China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Sinopec AFP Fri, 30 Aug 2013 05:34:06 +0000 5921214 at http://www.globalpost.com China oil giant buys into strife-hit Egypt for $3.1 bn http://www.globalpost.com/dispatch/news/afp/130830/china-oil-giant-buys-strife-hit-egypt-31-bn <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese oil giant Sinopec is entering Egypt despite the country's political strife, announcing Friday it is buying a $3.1 billion stake in an existing operation as China scours the globe for energy reserves.</p> <p>State-owned Sinopec will buy a one-third share in the Egyptian oil and natural gas business of US firm Apache Corp., the companies said.</p> <p>The deal, which is still subject to regulatory approval, marks Sinopec's first entry into exploration and production for oil and gas in Egypt, Sinopec said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130830/china-oil-giant-buys-strife-hit-egypt-31-bn" target="_blank">read more</a></p> China National Offshore Oil Corporation Hang Seng Index Constituent Stocks Sinopec AFP Fri, 30 Aug 2013 09:31:25 +0000 5921311 at http://www.globalpost.com