So far CNOOC has completed its preliminary strategic deployment in natural gas industry in the costal areas south to the Yangtze River. American corporations were prohibited from purchasing assets in China, and it was also argued that foreign, communist ownership of oil assets might be a regional and economic-security risk; Unocal had sensitive deep-sea exploration and drilling technology.
It acquired five blocks in Indonesia from Spanish oil company Repsol inbecoming its largest offshore operator. CNOOC has completed its preliminary strategic natural-gas deployment in southern coastal areas up to the Yangtze River. In addition to the steady growth in upstream business, CNOOC found success in its mid- and downstream business.
The value of state-owned assets was effectively increased. It is the fifth and 12th in gross profits and totals assets among state-owned enterprises in China. Exploration and production of oil and gas saw a steady growth in In these projects, CNOOC is responsible for both the construction of LNG receiving terminals and trunklines for gas transmission as well as the construction of gas-fired power plants.
Unocal also had sensitive deep-sea exploration and drilling technology with dual-use potential. It generated revenue of RMB CNOOC has established six business sectors ranging from exploration and development of oil and gas, technical services, logistic services, chemicals and fertilizer production, natural gas and power generation to financial services, insurance in more than two decades, all undergoing smooth and synergetic growth.
While there was no law to block the purchase, Congressional delays and calls for extensive inquiry into the matter deterred the CNOOC bid significantly. At the end ofmarket capitalization of the three listed companies had approached RMB billion, 3. Furthermore, a lack of reciprocity was pointed out as American corporations were prohibited from purchasing analogous assets in China.
Its domestic production reached The output reached CNOOC makes continuing efforts in various areas including oil and gas exploration and development, exploitation of overseas resources, development of midstream and downstream business and establishment of modern business system into build an integrated energy company with international competitiveness and modern management system by with fast and quality growth and strong profitability.
Init bought 5. Domestic production was CNOOC tried to acquire Large foreign energy firms, such as Exxon Mobil and BPwill more easily make inroads.
In accordance with the commitment by the Chinese government to join the World Trade Organizationthe oil market will be opened to non-Chinese companies such as Exxon Mobil and BP by the end of By the end oftotal assets and nets assets had reached RMB This decision was submitted to a vote by Unocal stockholders on August 10, The company signed all mid- and downstream contracts for the Guangdong and Fujian LNG projects and imported 3.
The annual output in Bohai Bay exceeded 10 million tons of oil equivalent for the first time, making it the second offshore area producing over 10 million tons after the Eastern South Sea and an energy-production base in northern China. Annual output in Bohai Bay exceeded 10 million ton of oil equivalent for the first time, making it the second major offshore producing area with an output of over 10 million ton in China after Eastern South Sea and an important energy production base in northern China.
It was also argued that the foreign and particularly communist ownership of oil assets could represent a regional and economic security risk. Init bought 5. The company is fifth and twelfth in gross profits and total assets of state-owned enterprises in China. CNOOC also sought to acquire a Furthermore, in accordance with the commitment made by the Chinese government to join the World Trade Organizationthe retail and wholesale market of oil will be further opened to non-Chinese companies by the end of CNOOC had an integrated industrial portfolio as it expanded into refining.
It aims to develop into a world-class integrated international energy company.The graph shows the revenue of the China National Offshore Oil Corporation (CNOOC) in China from to Inrevenues of the CNOOC had amounted to about billion yuan.
China National Offshore Oil Corporation (CNOOC) is the third-largest national oil company in the People’s Republic of China, after CNPC (parent of PetroChina) and China Petrochemical Corporation (parent of Sinopec).
Health, Safety and Environment. We has established a health and safety system operating to international standards to ensure staff occupational health and production safety; this is regarded as part of corporate social responsibility. CNOOC Limited (中国海洋石油有限公司) is China's largest producer of offshore crude oil and natural gas.
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China National Offshore Oil Corporation (CNOOC Group Chinese: 中国海洋石油总公司 Pinyin: Zhōngguó Háiyáng Shíyóu Zǒnggōngsī) is one of the three major national oil companies of China.
CNOOC Group is the third-largest National Oil Company (NOC) in the People's Republic of China after CNPC (parent of PetroChina), and China Petrochemical Corporation (parent of Sinopec).Download