CNOOC: diversification of oil and gas development is no longer the only

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Continue to increase investment in upstream oil and gas exploration and development, China National Offshore Oil Corporation (the “CNOOC”), in the middle and lower areas of hope in the future and new energy development to achieve greater progress, so the only change in the core oil and gas company industry status quo, which is the “First Financial Daily” from CNOOC held last week by the sixth Conference of Information Technology.

Although it refers to “CNOOC” are dubbed “third largest oil company,” the name, but General Manager Fu Chengyu, CNOOC in the General Assembly before the end of his speech, stressed that CNOOC’s strategic goal is to build a world-class “Energy” company, so oil and gas will no longer be the core of the company’s only industry, but one key industry, middle and lower areas of the company to become the new pillars of economic growth and new energy, alternative energy and renewable energy development In the “Eleventh Five-Year” period to achieve substantive progress.

For now, CNOOC in addition to the upstream oil and gas business, other key development mainly in refinery, gas station business and professional technical services in three areas.

Refinery and gas station on the side, CNOOC had been formed at the end of last year CNOOC Refining & Chemical Corporation, refining companies have a total investment of 17 billion yuan will be 12 million tons refinery project in Huizhou and the total investment of 4.3 billion U.S. dollars in the Sea CNOOC Shell Nanhai petrochemical projects in the refinery’s assets include, but also active in oil sales business in February this year the company acquired Shanghai Star City Private oil sales 83.2% stake in oil, has recently established a sales company in Guangzhou, and start the acquisition of gas stations in Guangdong plans.

In the professional and technical services, while CNOOC’s China Oilfield Services Ltd. has included (2883.HK) and Offshore Oil Engineering Co., Ltd. (600583.SH) two companies, for the upstream offshore oil and gas field development, production and provision, including geophysical , drilling, engineering, technical services, oil and gas wells, including the professional services, protection of CNOOC’s upstream business development and low-cost strategy. CNOOC is also just this month, a joint venture with Zhejiang Jinzhou Group, a CNOOC Jinzhou Pipeline Co., which owned 51% of CNOOC, which markets to enter the professional pipeline.

It is noteworthy that, in the new energy development, CNOOC has already begun substantive action. CNOOC in the new energy business development primarily by its continued existence of business?? CNOOC Base Group Co., Ltd. (hereinafter referred to as “the sea-land”) commitment to the sea to have new energy, renewable energy, alternative energy and improving four aspects of energy efficiency in the use of non-oil energy development work, focusing on the development of coal gasification-based coal-oil, bio-alternative fuels, wind energy development and other projects.

China Coal Research Institute, once told reporters that experts, who in the sea to compete with the Shanxi Luan Mining Corporation of Shanxi coal-based synthetic oil project bid qualification, but that was not succeeded, and now the project has become Luan coal oil one of three demonstration projects.

Network in China’s energy seems CIO HAN Xiao-ping, CNOOC is the most should be poured into the area of offshore wind power. As the development of offshore oil company, CNOOC not only the construction of wind power at sea to show their talents, and can manage to run offshore wind power project, even in the land to develop wind power in order to gain experience.

Source by yaya