Chinese state-owned energy giant Sinopec Group will sell off most of its hotels by the end of 2017 and get rid of more than 4,000 company cars as part of efforts to root out corruption and waste, it said on Monday.
Nexen Energy, a wholly owned subsidiary of China's CNOOC, is closing its crude oil trading division following a round of job cuts announced last week, four market sources said.
The Calgary-based company, which was acquired by
Indonesia expects to sign agreements with China's CNOOC Ltd, Saudi Aramco and two other oil companies covering direct oil sales and refinery investments in Southeast Asia's largest economy, a senior Perta
Qatargas delivered the first cargo of Liquefied Natural Gas (LNG) to China National Oil Corporation's (CNOOC) Hainan LNG terminal located in the Hainan province, a company statement said on Monday.
The cargo arrived on August
China's top offshore oil producer CNOOC posted a 11.4 per cent slide in its 2013 net profit yesterday, lagging analysts' forecasts, as it struggled to deliver production growth and control costs amid weakening crude prices.
Canada approved China's biggest foreign takeover, the $15.1 billion bid by CNOOC for energy company Nexen, after the Chinese giant agreed to conditions, but drew a line in the sand against future purchases by state-owned enterprises.
Saudi Aramco, China Petroleum & Chemical Corp (Sinopec) and CNOOC are in talks to buy up to 30 per cent stake in North American oil and gas services company Frac Tech International in a deal worth about $2.2 billion.
Frac Tech has hire
France's Total has acquired a 25 per cent stake in Qatar's Block BC offshore exploration license, state-owned Qatar Petroleum said in a statement on Sunday.
Located 130km east of the Qatari coast, the offshore block covers an area of 5,649
BP said it had agreed to sell its stake in Argentina-based oil and gas group Pan American Energy (PAE) to Bridas Corp, half-owned by China's CNOOC, for $7 billion, as it raises cash to pay for the Gulf oil spill.
The planned sale of the 60