China National Offshore Oil Corp News

The Supreme Court in the Philippines on Tuesday declared the country's 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling that the constitution does not allow foreign entities to exploit natural resources. The decision, on an agreement that expired in 2008, could complicate efforts by China to revive oil and gas exploration talks with the Philippines in areas of the South China Sea that are not in dispute. The court gave no explanation for why the ruling came 14 years after a petition was filed.

A tanker, the Yiannis, arrived near Venture Global LNG's Calcasieu Pass liquefied natural gas (LNG) export plant in Louisiana on Monday and could be first vessel to pick up a cargo at the facility, according to data from Refinitiv.Last week, Venture Global sought permission from federal energy regulators to load the first commissioning cargo from Calcasieu Pass.Venture Global asked the U.S. Federal Energy Regulatory Commission (FERC) to authorize the first cargo before Feb. 9 so the company could load that cargo on or after that date.Officials at Venture Global were not immediately available to comment on whether the Yiannis would be the first tanker to pick up LNG at the facility.Calcasieu started producing LNG around Jan.

Chinese state-owned China National Offshore Oil Corp (CNOOC) has led the first group purchasing order for liquefied natural gas (LNG) on the Shanghai Petroleum and Natural Gas Exchange, the bourse said in a statement on Wednesday.The 120,000-tonne LNG cargo will arrive in April 2021 via CNOOC's terminals and other approved hubs in Shenzhen and Guangdong, the exchange said. Buyers will have until the end of September to collect their purchases.The exchange's newly launched group purchasing option for LNG buy tenders allows smaller firms to purchase portions of a larger cargo.

China National Offshore Oil Corp, or CNOOC, has agreed to buy from Royal Dutch Shell two cargoes of liquefied natural gas with offset carbon emissions, marking China's first gas imports of this kind, said the Shanghai Oil and Gas Exchange.CNOOC and Shell will use carbon credits won in projects in China's northwest Xinjiang and Qinghai region to offset the carbon emissions involved in producing and consuming the two gas cargoes, the exchange said in a statement on Sunday.CNOOC will auction the two cargoes at the Shanghai exchange.

China has issued 28 million tonnes of refined fuel export quotas in the second allotment for this year, little changed from the first batch of 27.99 million tonnes issued last December, according to four sources with knowledge of the matter.The quotas were released last week to five state oil companies, PetroChina, Sinopec, China National Offshore Oil Corp, Sinochem Group and China National Aviation Fuel Corp, the sources said.The new quotas, of mostly gasoline, diesel and aviation fuel…

The tanker Maran Gas Vergina has arrived in China with the first delivery of U.S. liquefied natural gas (LNG) in 13 months, shipping data showed on Monday.This is the first shipment since March 2019 after a long-standing trade war in which China raised tariffs on LNG imports from the United States to 25% last year.The tanker berthed on Monday in Tianjin, where China National Offshore Oil Corp (CNOOC) and Sinopec operate LNG terminals, ship-tracking data from Refinitiv and data intelligence firm Kpler showed.Aboard is a cargo that loaded at the Freeport LNG plant in Texas.Three more U.S LNG deliveries are expected in China in April and two cargoes are scheduled to be discharged in May…

Tankers carrying U.S. liquefied natural gas (LNG) are on their way to China after Beijing started granting tax waivers to some importers, according to shipping and trade sources.This is the first time since March 2019 that shipments have resumed after a long-standing trade war that saw China raise tariffs on LNG imports from the United States to 25% last year.Four LNG tankers are currently en route to China after loading cargoes last month in the United States, ship-tracking data from Refinitiv and data intelligence firm Kpler showed.The tankers are expected to arrive in China between late April and early May, according to the data.

Philippines fuel retailing firm Phoenix Petroleum said it won government approval to build the country’s first liquefied natural gas (LNG) import terminal in partnership with China National Offshore Oil Corp (CNOOC).The Department of Energy (DOE) has granted notice to proceed (NTP) to their joint venture firm Tanglawan Philippines LNG Inc. to build an LNG terminal in Batangas.Phoenix Petroleum said in a stock exchange annoucement that it plans to break ground on the facility within the year. The facility has a capacity of 2.2 metric tons per annum, with commercial operations targeted to start in 2023.Phoenix does not say how much the project will cost…

BP operates largest teapot marketing team among majors; four BP-chartered tankers have trouble unloading off China. Four supertankers chartered by energy major BP have been held up or delayed off China's east coast over the last two months, unable to fully discharge oil as slowing demand from the country's private refiners starts to impact global markets. Two of the four BP-chartered very large crude carriers (VLCCs) are still off Shandong province holding half their cargoes of Angolan crude oil, and another is headed back there from South Korea, according to trade flow data in Thomson Reuters Eikon and two shipping sources who track these vessels.

Philippine fuel retailer Phoenix Petroleum said it had agreed to partner with a subsidiary of state-owned China National Offshore Oil Corp (CNOOC) to explore building a receiving terminal for liquefied natural gas in the country.The Philippines is seeking investors to build a storage and distribution facility for imported LNG as it moves to replace its Malampaya gas reserves, expected to be depleted by 2024.Phoenix Petroleum, owned by a local businessman who helped bankroll President Rodrigo Duterte's 2016 election campaign…

The trading arm of China National Offshore Oil Corp (CNOOC) struck a three-year lease for a bigger floating storage and regasification unit (FSRU) from Hoegh LNG as it seeks to boost imports of liquefied natural gas (LNG).In a statement, shipowner Hoegh LNG said its Esperanza FSRU was contracted to CNOOC Gas & Power Trading and Marketing.The floating liquefied natural gas (LNG) import terminal will be based in Tianjin as a replacement for Hoegh's GDF Suez Cape Anne FSRU, recently redeployed from China to India.The Esperanza is larger…

China National Offshore Oil Corp (CNOOC) is seeking liquefied natural gas (LNG) cargoes for delivery for up to 2022, two trade sources said on Monday.   The company has given options for four different delivery time periods in the tender, which will close on April 16 and is valid until April 25, one of the sources said.   The options vary with the delivery of the first LNG cargo under the tender to start from the second half of November or December this year.   The options include delivery periods that can last to December 2019 all the way to December 2022, the source added. Reporting by Jessica Jaganathan

China has assured the Philippines it will not occupy new features or territory in the South China Sea, under a new "status quo" brokered by Manila as both sides try to strengthen their relations, the Philippine defence minister said. Philippine Foreign Secretary Alan Peter Cayetano also said the Philippines was working on a "commercial deal" with China to explore and exploit oil and gas resources in disputed areas of the South China Sea with an aim to begin drilling within a year. The defence minister, Delfin Lorenzana, told a congressional hearing the Philippines and China had reached a "modus vivendi", or a way to get along, in the South China Sea that prohibits new occupation of islands.

The world's biggest liquefied natural gas (LNG) buyers are clubbing together to secure more flexible supply contracts in a move that further shifts power to buyers rather than producers. Japan, China and South Korea are the world's biggest LNG importers, accounting for about 55 percent of global purchases, according to data from energy consultancy Wood Mackenzie. The countries' biggest respective buyers are joining together to extract concessions from producers that would give them supply flexibility such as having the right to re-sell imports to third parties…

China LNG imports hit record in November, but set to beat that this month. China's state oil and gas majors are set to import record levels of liquefied natural gas (LNG) this month, betting on robust demand during the cold winter months and helping lift Asian prices to their highest in nearly two years. Trade flows data on Thomson Reuters Eikon shows 7.33 million cubic metres (mcm) of LNG, equivalent to 3.33 million tonnes, are heading to China for delivery this month. This includes 10 cargoes from Qatar, an unusually high number even for the world's largest LNG exporter. That would easily top the record 2.66 million tonnes that landed in November, up from 1.81 million a year ago, as a cold snap across the north of the country spurred demand.

A group of Japanese shipbuilders led by Mitsubishi Heavy Industries Ltd (MHI) plans to exit its 30 percent stake in Brazilian shipbuilder Ecovix and declare the investment as a loss, Valor Economico newspaper reported on Tuesday. The group led by MHI plans to sell its stake in Ecovix, which it bought in 2013 for about $300 million, to Jackson Empreendimentos for a "symbolic amount," Valor reported. Jackson Empreendimentos owns the remaining 70 percent of Ecovix, the controller of Estaleiro Rio Grande (ERG) shipyard in the Brazilian city of Rio Grande. In addition to MHI, the Japanese group includes Mitsubishi Co and the Imabari, Namura and Oshima Shipbuilding companies, the newspaper reported. MHI's Brazilian unit did not answer calls requesting comment.

According to a June 20 report from the Associated Press, in reaction to the oil spill in the Gulf of Mexico, Britain has doubled rig inspections. Bulgaria scrapped plans for a new oil pipeline. Canada's offshore regulator is tightening oversight of its deepest-ever exploration well, being drilled by Chevron off the coast of Newfoundland. Meanwhile, China's offshore oil company, China National Offshore Oil Corp., or CNOOC, said it is upgrading its blowout preventer system and diving equipment for a drilling rig being built in Shanghai. And France's Total has formed two task forces to check facilities and strengthen contingency plans for any potential major pollution. (Source: the Associated Press)

According to a June 8 report from Bloomberg, China National Offshore Oil Corp., the country’s biggest offshore energy explorer, may delay the startup of its first deepwater rig until 2011 because of a safety review after BP Plc’s oil spill in the Gulf of Mexico. The rig to be deployed in the South China Sea may not turn operational until the first quarter. (Source: Bloomberg)

According to an Interfax analysis of customs data, China used just over half its LNG regasification capacity in 2014, as tariff hikes and cheaper competing fuels hit gas demand growth. Slow downstream demand, driven by rising natural gas prices and sluggish GDP growth, coupled with rising pipeline imports and plunging prices of alternative fuels, have halved China's LNG consumption growth, said industry sources. While Chinese LNG imports in 2014 were up 10.3 percent from 2013, the growth was lower than the 20.3 percent and 22.7 percent registered in 2012 and 2013, Platts data showed. Slower demand growth has also kept import infrastructure…

According to a Jan. 8 report from Reuters, China National Offshore Oil Corp (CNOOC), the country's third-biggest oil company, imported its first cargo of diesel recently, joining its bigger rivals in oil product trading. CNOOC, parent of CNOOC Ltd , imported 27,000 tonnes of diesel from South Korea and sold it in eastern China to ease a local diesel shortage. (Source: Reuters)

Total SA said it had signed an agreement with China National Offshore Oil Corp for the sale of liquefied natural gas to China. Under a heads of agreement, up to 1 million tons of LNG will be delivered to CNOOC annually starting in 2010, Total said. The gas will be sourced from Total's global LNG portfolio, based on its participation in over 10 liquefaction projects worldwide, and on its trading activities. A heads of agreement (HoA) is a non-binding document which provides the basis for further discussion and the drawing up of a fully-termed deal. CNOOC, which leads China's fast-growing LNG market, had in 2006 signed several framework contracts to buy spot LNG from foreign firms including Total and Suez SA in a bid to stabilize imports, which are mainly arranged under long-term contracts.

According to a Nov. 24 Bloomberg report, Cnooc Ltd. and its partners may spend about $29b to develop fuel deposits in the South China Sea in the nation's biggest push to tap reserves off the coast. The investments between next year and 2020 include an estimated $2.2b by parent China National Offshore Oil Corp. to build deepwater drilling equipment. (Source: Bloomberg)

The tugs are being built for CNOOC Energy Technology & Services Limited (CETS), a subsidiary of the state-owned China National Offshore Oil Corp. (CNOOC). The vessels are the first in a planned series to be fuelled by liquefied natural gas (LNG), and will be the first tugs in China ever to be operated on gas, they  will also be the first tugs globally to take advantage of the dual-fuel benefits offered by the Wärtsilä DF engine technology. The strategy of CNOOC is aimed at achieving more clean energy in its operations…