US Restrain China GofM Aspirations

South China Morning Post
Monday, March 04, 2013

CNOOC, China's largest offshore oil and natural gas producer, barred from outright opeation of recently acquired Gulf of Mexico oilfields.

The oilfields were acquired by CNOOC through its US$15-billion takeover of Canadian firm Nexen.

The state-owned oil giant's purchase of Nexen includes about 200 deep-water leases in the Gulf, however the company has surrendered operating control of them to quell US national security concerns, reports the South China Morning Post, noting that the requirements contrast with approvals for state-owned companies including Norway's Statoil and Brazil's Petroleo Brasileiro to control drilling and production in the Gulf.

CNOOC will still own the assets and be allowed some general oversight, as well as to collect revenue from the properties, but with the status of a 'non-operator'.

Source: South China Morning Post

 


 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Euronav Posts 62% Core Profit Increase

Belgian crude oil shipping group Euronav on Wednesday unveiled a 62 percent rise in first-quarter core profit as daily rates for its fleet rebounded from last year.

Modern Solutions Power Systems Conference

Thomas Alva Edison, who is considered to be one of the most prolific inventors in history, once said, “I find out what the world needs. Then I go ahead and try to invent it.

Cool Runnings: R.W. Fernstrum's Engineered Solutions

A hallmark of the global maritime industry is the proliferation of smaller, family founded and managed businesses. R.W. Fernstrum is one such company: a ubiquitous

Offshore

Offshore Oil & Gas: Brazil’s Northern Frontier

In an effort to spread out oil and gas production to other parts of the country and increase overall oil production, Brazil has finally intensified hydrocarbon

Safety the Focus as Heavy Lifting Picks Up

Modern heavy lift capabilities are crucial for safe, efficient operations offshore Heavy lift operations offshore are an awe-inspiring feat, but an operation that

Azeri Shipyard, BP Sign Vessel Construction Contract

Azeri state energy company SOCAR's shipyard and British oil major BP have signed a $378 million deal to design and build a subsea construction vessel for the Shah Deniz II gas project,

Finance

Euronav Posts 62% Core Profit Increase

Belgian crude oil shipping group Euronav on Wednesday unveiled a 62 percent rise in first-quarter core profit as daily rates for its fleet rebounded from last year.

CNR: Innovation Maintains US Naval Advantages

An interview with Rear Adm. Matt Klunder, U.S. Navy Chief of Naval Research What are your near term, mid-term and long term science and technology (S&T) objectives?

BIMCO: Positive Economic Developments Benefits Shipping

The recovery of the Eurozone continues as job creation returns across the region. The hiring of more staff indicates that manufacturing and service industries believes

Offshore Energy

Offshore Oil & Gas: Brazil’s Northern Frontier

In an effort to spread out oil and gas production to other parts of the country and increase overall oil production, Brazil has finally intensified hydrocarbon

C-MAR's Modern Approach to DP Training in Brazil

The modern offshore maritime industry heavily relies on different classes of DP vessels, from OSVs to Drillships and Tankers, almost all vessels serving the oil

UK Subsidises 8 Renewable Energy Contracts

The British government on Wednesday awarded investment contracts under a new subsidy regime to eight renewable energy projects, including five offshore wind farms and three biomass plants.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1341 sec (7 req/sec)