CHINA OIL UP
Headquartered in Tianjin, COOEC owns another two offshore engineering sites in Tanggu, Tianjin and Zhuhai in Guangdong province. The company's current operational area is around 1.42 million square meters and it plans to expand it to 2.07 million sq m by 2018. China aims to raise petroleum output by updating its technology and stepping up oil and gas exploration across Bohai, East China and South China Seas.
The plan was outlined in an energy development scheme for 2014 to 2020 issued by the State Council on Wednesday.
To accelerate offshore oil and natural gas exploration, China will improve its own technology as well as actively seek overseas partners.
The country will attach equal importance to onshore oil fields, stabilizing old sites and exploring new alternatives, especially those in West China.
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THE LOCAL FRANCE - Angola and French oil giant Total formally launched a major new offshore oil project Saturday to aid the country's economy that plunged into crisis following oil price dips in 2014.
WNN - China's State Power Investment Corporation (SPIC) says it has signed a memorandum of understanding (MoU) for "global cooperation" in nuclear energy with Westinghouse Electric Company of the USA.
WNN - Advanced Nuclear Technologies - otherwise known as small nuclear or small reactor technologies - encompass a wide range of nuclear reactor technologies under development, BEIS noted. "The common attributes that these technologies share is that they are smaller than conventional nuclear power station reactors and are designed so that much of the plant can be fabricated in a factory environment and transported to site, reducing construction risk and making them less capital-intensive," it said.
WNN - Poland and the USA have signed a Joint Declaration of Energy Security, which emphasises the expansion of their cooperation in a variety of areas, including civil nuclear energy. The document was signed in Warsaw yesterday by Polish Energy Minister Krzysztof Tchórzewski and US Secretary of Energy Rick Perry.