Chevron: Relations CNOOC 'Normalizing'

Monday, March 27, 2006
Relations between Chevron and China's dominant offshore oil and gas producer CNOOC are 'normalizing' seven months after CNOOC bowed to U.S. political opposition and gave up its fight with Chevron to buy Unocal, as reported by Forbes. Chevron, the second-largest holder of oil and gas reserves in the east Asia-Pacific region after PetroChina, is looking to sell more gas to China as it develops its resources in Australia and Indonesia, the report in the Hong Kong paper said. CNOOC pulled its $18.5 billion bid for Unocal in August last year citing 'unprecedented political opposition' in the U.S. Chevron, which began doing business in China in the 1920s, has continuing partnerships with CNOOC in oil and gas production in offshore centres in China and Western Australia. Chevron had been in talks with CNOOC parent China National Offshore Oil Corp to sell gas from its 50 pct-held Gorgon project near Western Australia to the latter's planned liquefied natural gas (LNG) project in Zhejiang province. The parent tried to bargain for CNOOC a right to invest in the gas project, in exchange for a long-term gas off-take agreement. Two years of talks yielded no deal as China National Offshore insisted on buying gas at prices last seen four years ago. (Source: Forbes)
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP).

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

Energy

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2058 sec (5 req/sec)