(EnergyAsia, February 20 2013, Wednesday) — China’s largest offshore oil and gas company will boost its capital expenditure (capex) by between 25% and 50% this year from 2012’s US$9.2 billion while maintaining a conservative target of producing around 343 million barrels oil equivalent (boe). With this strategy, state-owned CNOOC Limited is assuming it will face…
CHINA: CNOOC to raise capex by up to 50% this year, maintain production at around 343 million boe
Posted on February 20, 2013 by EnergyAsia