By Everett Rosenfeld Territorial conflict is an old story in the South China Sea, where several nations make conflicting claims on the region—and its oil and gas potential. But the escalating conflict between Vietnam and China is something new altogether. Le Quang Nhat | AFP | Getty Images Anti-China protesters march while shouting slogans in Ho Chi Minh City, May… Keep reading →
PENTAGON: Interspersed with strong declarations by Gen. Fang Fenghui, head of the People’s Liberation Army’s general staff, that China is right in all of its territorial disputes in the East and South China Seas, there were clear indications that the United States and China are grappling with how to craft a more stable and more intimate… Keep reading →
Chinese national oil company CNOOC built its own offshore oil drilling rig so as not to rely on western firms that could refuse to lease equipment used in disputed territorial waters in the South China Sea. CNOOC over the weekend moved that rig into to Vietnam’s 200 nautical mile exclusive economic zone to begin drilling.… Keep reading →
First, BP dropped plans to invest in a refinery in Qinzhou. Then PetroChina delayed plans for it’s Kunming refinery, part of a larger plan that includes a pipeline linking Southwestern China to the Bay of Benegal through Myanmar (bypassing the Malacca Straits). Now, two of the largest Chinese national oil companies (NOCs) are paring back… Keep reading →
It’s hard to find a good quote when nobody’s talking. In this developing story, several Chinese national oil company employees – some fairly high ranking including CNPC’s chief accountant – have been “summoned to assist in an investigation,” according to Chinese news reports. It appears the wide-ranging government investigation that has been underway for months… Keep reading →
The results of Chevron’s initial exploration in the Kaybob area of the Duvernay play in Alberta, Canada show liquid yield from completed wells in the 30-70% range, with initial production rates of as much as 7.5 million cubic feet of natural gas and 1,300 barrels of condensate per day. [Chevron] China National Offshore Oil Corp… Keep reading →
This week’s biggest deal happened in Washington, DC, where the House and Senate finally reached an agreement to reopen the US government and raise the debt ceiling. But there were also several energy-specific transactions and pending transactions that merited notice: Mexico’s state-controlled oil and gas company Pemex has voided a tender for the second phase… Keep reading →
Here is a roundup of some of this week’s more interesting energy deals: The BP-led Shah Deniz consortium signed a 25-year sales agreement for more than 10 billion cubic metres per year of natural gas from the second phase of development at the giant Shah Deniz field offshore Azerbaijan. Shah Deniz will deliver gas directly… Keep reading →
Prime Minister Stephen Harper (L) of Canada welcomes US President Barack Obama to the G8 Summit at Deerhurst Resort in Huntsville, Ontario, on June 25, 2010.
The recently announced high-profile oil and gas acquisitions by Chinese state-controlled companies highlight the numerous opportunities for the US and Canada to both partner and compete in global energy markets. Keep reading →
Citic, CLSA, CNOOC, Nexen, Sinopec and Talisman: China’s Multi-Billion Dollar Week in the Energy Markets
By Peter GardettThe bureaucrats in Beijing and the businessmen in Shanghai have been busy in recent weeks, negotiating a series of headline deals that sync into broader themes of Chinese access to global energy and commodities markets.
Bankers at Wall Street and City of London banks have spent much of the past week telling financial reporters that the impending sale of the remaining 80% of the Asian arm of French bank Credit Agricole represented an old finance industry meme: an out-of-towner overpaying for access to the premier league of global banking. Keep reading →