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CNOOC to Export 100,000 T Oil Products in H2

August 27, 2014

CNOOC to export diesel, gasoline, kerosene or naphtha in H2; volumes likely to be in 10,000 T parcel sizes. China National Offshore Oil Corp (CNOOC) has received a quota from the government to export about 100,000 tonnes of oil products in the second half of the year…

Wood Group Kenny Wins 2 Contracts from Petrobras

August 26, 2014

Wood Group Kenny (WGK) has won two contracts with a total value of over $2 million with Brazilian operator Petrobras. In the first, WGK has begun a conceptual engineering study of two alternatives of pipeline heating systems for the Petrobras pre-salt Lapa field…

Sinopec SVP is new Sinochem Chair

August 26, 2014

A former senior vice president at top Asian oil refinery Sinopec Corp has officially taken office as the new head of state-run Sinochem Group, officials at the two companies said on Tuesday. Cai Xiyou, Sinopec's vice president in charge of oil trading and sales…

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Sinopec:China Shale Costs Will Drop

August 25, 2014

State-run oil company Sinopec Corp said on Monday it expects shale drilling costs in China to drop to $50 million per well from $80 million in three to five years. Chairman Fu Chengyu was speaking at the firm's results briefing after it reported…

China Shale Drilling Costs Expected to Fall

August 25, 2014

State-run oil company Sinopec Corp said on Monday it expects shale drilling costs in China to drop to $50 million per well from $80 million in three to five years. Chairman Fu Chengyu was speaking at the firm's results briefing after it reported…

Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

August 23, 2014

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display, from…

Kuwait to Boost Oil Exports to China

August 23, 2014

Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait  Petroleum Corporation (KPC) said Saturday. On Monday, Kuwait concluded a new 10-year deal…

YPF Oil Extends Operating Agreement with Sinopec to 2027

August 23, 2014

Argentina's state oil company YPF agreed Friday to extend its operation until 2027 in partnership with a local unit of China's Sinopec oil in an area of ​​a province in the center-west of the country, which represent an investment of $ 300 million, the company said in a statement.

Sinopec Q2 Earnings Beat Street

August 22, 2014

Sinopec Corp, Asia's largest refiner, posted a 36 percent rise in second-quarter profit, beating forecasts, as a strong improvement at its refining business more than offset a weakening chemicals division. It posted a net profit of 18.44 billion…

Motion Compensation Aids Offshore Lifeboat Lift

August 20, 2014

In a refurbishment program to upgrade lifeboats on offshore platforms, Ampelmann completed a second successful reinstallation using its full motion compensation technology. The eight-metric-ton lifeboat was kept completely stationary above the vessel deck…

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