CNOOC debuts on Toronto Stock Exchange

CNOOC debuts on Toronto Stock Exchange 

The China National Offshore Oil Corp Ltd fulfilled one of the requirements for its

David Nealis President Ceres Ltd.

USD15.1billion acquisition of Canadian oil-and-gas firm Nexen Inc by debuting on the Toronto Stock Exchange. CNOOC is now listed as CNU on the TSX. It has received approval to trade American Depositary Receipts equal to 100 common shares of CNOOC. There will be no new shares issued, nor will these generate more funds for the state-owned Chinese firm. CNOOC CEO Li Fanrong and Chairman Wang Yilin said this demonstrates CNOOC’s commitment to transparency. 

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China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition

BP and CNOOC Sign Production Deal

David Nealis President of Ceres Ltd

BP and China’s offshore oil producer CNOOC signed a production sharing agreement for a deepwater block in the South China Sea.

The block 54/11 covers 4,586 square kilometers in water depths form 370 meters to 2,300 meter. It is in the Pearl River Mouth Basin and close BP’s existing deepwater interests in two blocks there.

This is the 200th contract for production sharing contract between CNOOC and foreign partners. CNOOC said it has the right to participate in up to 51 percent working interest in any commercial discoveries in the new block and it will act as its operator, according to Chinese State run Media 

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

CNOOC H1 profits up by 7.9% after Nexen acquisition

CNOOC H1 profits up by 7.9% after Nexen acquisition

David Nealis President of Ceres Ltd.

China National Offshore Oil Corp (CNOOC) announced that its net profits for the first half of this year increased by 7.9%.  This was partly due to greater output of oil and gas following its acquisition of Nexen Inc of Canada for US$15.1 billion in February. CNOOC CEO Li Fanrong said that they are now seeking integration of Nexen into CNOOC and plan to apply for a listing on the Toronto Stock Exchange.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

BP & CNOOC Sign Production Deal

BP & CNOOC Sign Production Deal

BP and China’s offshore oil producer CNOOC signed a production sharing agreement for a deep-water block in the South China Sea.

The block 54/11 covers 4,586 square kilometers in water depths form 370 meters to 2,300 meter. It is in the Pearl River Mouth Basin and close BP’s existing deep-water interests in two blocks there. 

David Nealis President of Ceres Ltd.

This is the 200th contract for production sharing contract between CNOOC and foreign partners. CNOOC said it has the right to participate in up to 51 percent working interest in any commercial discoveries in the new block and it will act as its operator.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

CNOOC eyes investments in Uganda's US$6 billion oil projects

CNOOC eyes investments in Uganda's US$6 billion oil projects

The China National Offshore Oil Corp (CNOOC) has reportedly expressed interest in investing in Uganda's oil refinery and a crude export pipeline, two projects which are expected to cost more than US $6 billon. While a number of joint venture firms are involved in developing Uganda’s oil fields, CNOOC is first to express interest in these two projects, according to Chinese state run media.

David Nealis President of Ceres Ltd

Africa continues to be one of the most important regions for Chinese to source commodities; I believe we will see a shift to more deals involving commodities between China and Russia & the USA in the near future.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

Futures and Options Risk Disclosure
Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

BP gets OK for South China Sea Gas Exploration

David Nealis President of Blue Bridge

BP gets OK for South China Sea Gas Exploration BP PLC has obtained approval from the Ministry of Commerce of China to explore in the South China Sea in what will be the company's second deepwater project in China. BP received approval to have a presence in a gas field known as block 43/11, operated by the China National Offshore Oil Corp (CNOOC). BP will have a roughly 40% stake in the block during the exploration period and a 20% share when the project has moved into production according to sources familiar with the deal.

CNOOC and Isofoton form JV in Tianjin China

China National Offshore Oil Corporation, the SOE parent of publicly listed offshore oil and gas producer CNOOC Limited, has agreed to put US$300 million toward a Tianjin based joint venture with Spanish solar-panel maker Isofoton.

David Nealis President of Blue Bridge

From the JV CNOOC will gain a technology partner to help its expansion into the renewable energy sector, while allowing Isofoton to access the China market for sales, one of the world's fastest growing solar energy markets, amid a slowdown in the European market due to government subsidy cuts.

Isofoton has advanced solar technology that can convert close to 40 per cent of energy from sunlight into electricity, around double that of conventional solar panels that are on the market today.

The goal of the joint venture will to develop solar power plants with total generation capacity of 150 megawatts for the Chinese and other markets, Isofoton said.

China's solar power panel installation surged more than six-fold to 2.9GW last year, and became the largest market in Asia Pacific with a 48 per cent share, according to industry consultancy Solarbuzz.