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Africa

China’s CNOOC finally agrees to invest in Uganda’s oil | Source: The Observer

China National Offshore Oil Corporation Ltd (CNOOC) has finally closed the long-awaited Final Investment Decision (FID) for the development of Uganda’s oil and gas projects in the Albertine region. The decision by CNOOC to unlock billions of dollars of investment in Uganda’s oil and gas sector now gives a green light to the proposed construction of a $3.5 billion East African Crude Oil Pipeline (EACOP) and other infrastructure in the Albertine region.

Source: The Observer


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Geopolitics

ASIA PACIFIC:

CHINA:

  • The US Commerce Department said it added Chinese National Overseas Oil Corporation (CNOOC) to a US economic blacklist. It said CNOOC has “repeatedly harassed and threatened offshore oil and gas exploration and extraction in the South China Sea, with the goal of driving up the political risk for interested foreign partners, including Vietnam.”

SOURCE: BUSINESS TIMES


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Global Energy Stategic Resources

Asia Pacific

ASIA PACIFIC

  • CHINA/USA: Chinese state oil giant CNOOC faces possible new US sanctions, threatening to cripple its international operations.

SOURCE: SOUTH CHINA MORNING POST

 

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Global Energy Stategic Resources

Middle East

MIDDLE EAST

  • IRAQ: China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oil field in Iraq (West Qurna 1 field). The oilfield is one of the world’s largests.

SOURCE: WORLD OIL

 

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Global Energy Stategic Resources

Asia Pacific

ASIA PACIFIC

  • SOUTH CHINA SEA: The Philippine National Oil Company (PNOC) is reportedly planning to commence an exploration venture with state-owned China National Offshore Oil Corporation (CNOOC) in the South China Sea by next year. The exploration venture will focus on the Calamian oil and gas prospect.

SOURCE: NS ENERGY BUSINESS

 

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