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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Nations Convene for Arctic Maritime Discussion

Citing an increasing need to ensure safety, security and stewardship of Arctic waters, member countries of the Arctic Council gathered at U.S. Coast Guard Headquarters

Energy

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Austal Graduates 48 4-Yr Apprentices

Austal USA combined two classes to graduate a total of 48 members of Austal’s cutting-edge four-year apprenticeship program yesterday at a formal ceremony held at the Arthur R.

Mexico Unveils National Strategy ahead of Paris Climate Talks

Mexico on Friday said it will cap its greenhouse gas emissions by 2026, becoming one of the first countries to formally submit its national climate plan the

 
 
Maritime Careers / Shipboard Positions Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair 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: 0.1045 sec (10 req/sec)