CNOOC maintains 340 million BOE output target for 2012


29/05/2012 11:04 AST  China Knowledge
Related Quotes
Brent
104.8 0.16 0.15%
 
WTI
96.68 0.66 0.69%
 
OPEC Basket
101.95 0.50 0.49%
 
 

China Knowledge cited Mr Wang Yilin Board Chairman of CNOOC Ltd the largest offshore oil company in China as saying that the company will maintain an annual output target between 330 million and 340 million barrels of oil equivalent or BOE this year.

He said that although there is no timetable to resume production at the company Bohai Bay field, CNOOC is confident to meet the annual target. Last year, the state owned oil giant output was 331.8 million BOE.

In the first quarter of 2012, CNOOC produced 79.8 million BOE, less than 85.4 million BOE it realized in the corresponding period of 2011, principally dragged down by halted production at the Penglai 19-3 field.

In addition, CNOOC and Husky Energy, a Canadian oil company, are exploring for gas on the Liwan project in the South China Sea. The project might be China's biggest offshore deposit.

Mr Wang Yilin CNOOC Chairman has also met Hong Kong billionaire Mr Li Ka-Shing, the single largest shareholder in Husky Energy to accelerate the development of the Liwan project.

Crude Oil News
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | News Archive

JAN | FEB | MAR | APR | MAY
Most Viewed News
Most Viewed Companies
Ticker Price Volume
RIBL 23.75 14,318
UCA 36.1 83,072
WATANIYA 103.5 156,836
EMAAR 5.97 16,429,325
BURUJ 47.8 517,365
JULPHAR 3.01 75,000
NASS 0.15
Recent News

Hong Kong Inflation Accelerates In April
Hong Kong inflation accelerated in April mainly due to a surge in prices of fresh vegetables, a report from the Census and Statistics Department showed Tuesday.

The composite consumer pric

France Leading Index Signals Recovery In Near-Term
France's leading economic index strengthened throughout the first quarter, suggesting that economic activity may begin improving in the near term, the Conference Board said Tuesday.

The le

Gold Declines in London as U.S. Stimulus Outlook Curbs Demand
Gold declined, following its biggest jump in more than 10 months, as speculation the U.S. Federal Reserve may taper its bond-buying plan curbed demand for the metal as a protection of wealth.

China Net Gasoline Exports Stay Remain Year High as Demand Slows
China’s net exports of gasoline remained near the highest level in a year amid the nation’s weakest domestic oil demand in eight months.

Overseas sales of gasoline exceeded imports by 468,55

Calling made easier for SMEs with du’s new business plans
du is pleased to announce the latest and most comprehensive additions to its tailored mobile plans for small and medium enterprises (SMEs): the International Business Plan and National Business Plan.

Research Reports
Daily Report Saudi Stock Market Daily Report 21-05-2013 Middle East & North Africa Daily Market Report 21-05-2013 Kuwait Stock Market Technical Analysis 21-05-2013 GCC Stock Markets - Daily more..
GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Are you satisfied with your full-service broker?