Archive for 'Company'

Oil exploration: Chinese company asks for more time

Wednesday, March 24th, 2010 at 5:07 pm  
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The China National Offshore Oil Exploration has requested for a five month extension in the fossil fuel exploratory project its carrying out in Isiolo following gas discovery in the area. Energy Permanent Secretary Patrick Nyoike says the extension will allow sinking of two other wells to ascertain the quality and the quantity of gas available in order to decide whether mining it is economically feasible. The PS however cautions that the gas find shouldnt be interpreted to mean the country has struck any sufficient hydro-carbons.

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Cnooc Buys $3.1 Billion Stake in Argentina’s Bridas: Video

Sunday, March 21st, 2010 at 5:08 pm  
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March 15 (Bloomberg) — Bloomberg’s Heidi Couch reports on Chinese oil and gas companies’ acquisitions of overseas energy assets. Cnooc Ltd., Chinas biggest offshore oil explorer, agreed to buy a 50 percent stake in Argentine producer Bridas Corp. for .1 billion, adding 318 million barrels of reserves as Chinese fuel demand surges. petrochina Co. and Royal Dutch Shell Plc have offered to acquire Arrow Energy Ltd. in Australia. Bloomberg’s Haslinda Amin also speaks. (Source: Bloomberg)

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