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2017-11-29 09:40:00

SOUTH CHINA SEA OIL

SOUTH CHINA SEA OIL

OGJPhase II production from Weizhou 12-2 oil field has been brought on stream, CNOOC Ltd. said of its project in Beibu Gulf in the South China Sea.

The oil field lies in 35.7 m of water. In addition to existing Weizhou 12-2 oil field equipment, one platform was built under Phase II.

Seven wells currently produce 6,400 b/d. The project is expected to reach peak production of 11,800 b/d in 2018.

CNOOC holds 100% interest and operates the field.

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Earlier:

 SOUTH CHINA CEA CALM
2017, November, 13, 10:40:00

SOUTH CHINA CEA CALM

Vietnam’s state television said Chinese President Xi Jinping had told Vietnam’s General Secretary Nguyen Phu Trong he wanted to work with Southeast Asian nations on a code of conduct in the sea. China’s Xinhua news agency said China and Vietnam had agreed to properly handle maritime issues and strive to maintain peace and stability.

 

 SOUTH CHINA SEA LNG
2017, November, 3, 12:15:00

SOUTH CHINA SEA LNG

The South China Sea is a major route for liquefied natural gas (LNG) trade, and in 2016, almost 40% of global LNG trade, or about 4.7 trillion cubic feet (Tcf), passed through the South China Sea.

 

 VIETNAM - INDIAN DEAL
2017, July, 7, 07:35:00

VIETNAM - INDIAN DEAL

Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region.

 

 SOUTH CHINA SEA GAS
2017, May, 19, 12:35:00

SOUTH CHINA SEA GAS

China's attempt to test marine natural gas hydrates, a future energy source, has turned out to be a success, making it the first country to secure continuous and stable gas supply in marine gas hydrate exploitation, according to the Ministry of Land and Resources.

 

 SOUTH CHINA SEA SOVEREIGNTY
2017, April, 6, 18:45:00

SOUTH CHINA SEA SOVEREIGNTY

China claims almost all of a large stretch of sea between Taiwan, Malaysia, Indonesia, the Philippines, Brunei, Vietnam and Japan. The trouble is, between them, these seven other states all do too.

 

 SOUTH CHINA SEA TALKS
2017, February, 8, 18:45:00

SOUTH CHINA SEA TALKS

China is committed to having talks with the parties directly involved, and in accordance with historical facts and international law to peacefully resolve the issue, and that position will not change, Wang said.

 

 SOUTH CHINA SEA PETROLEUM
2017, January, 24, 18:35:00

SOUTH CHINA SEA PETROLEUM

"We urge the United States to respect the facts, speak and act cautiously to avoid harming the peace and stability of the South China Sea,"

 

 

Tags: SOUTH, CHINA, SEA, OIL

Chronicle:

SOUTH CHINA SEA OIL
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

SOUTH CHINA SEA OIL
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

SOUTH CHINA SEA OIL
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

SOUTH CHINA SEA OIL
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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