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Cnooc to Start Offshore Fields, Shale Gas to Expand Reserves

Bloomberg -- Cnooc Ltd. (883), China’s biggest offshore energy producer, plans to develop new fields, acquire overseas assets and develop unconventional resources such as shale gas to meet output targets.

The energy explorer will start four blocks off the Chinese coast this year, Cnooc said, after posting second-half profit that beat analysts’ estimates. It is also “determined” to learn shale-gas technology from its partners and deploy it in China, holder of the world’s largest deposits of the fuel, Chairman Wang Yilin told reporters yesterday.

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Submitted Mar 30, 2012 By: Mudsprings

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puinsai808 Champion Author Honolulu Posts:3,529 Points:723,980 Joined:May 2011	Message Posted: Mar 31, 2012 12:32:33 PM Ignore puinsai808 Report Abuse Nobama needs to learn from the Chinese and their energy policy. Drill, drill, drill.
Ahking Champion Author Orange County Posts:3,492 Points:600,445 Joined:May 2011	Message Posted: Mar 31, 2012 12:11:28 AM Ignore Ahking Report Abuse Do we want the Chinese style or American style government here?
ExplorerWA Champion Author Washington Posts:4,062 Points:794,225 Joined:Feb 2011	Message Posted: Mar 30, 2012 9:09:52 PM Ignore ExplorerWA Report Abuse Well, they don't have an administration that has no real energy policy and do not like fossil fuels..
judgemobile Champion Author Ohio Posts:7,555 Points:2,442,210 Joined:Nov 2005	Message Posted: Mar 30, 2012 5:41:15 PM Ignore judgemobile Report Abuse at least Chinese leadership does something for Chinese people, unlike USA leadership, who are in it mostly for themselves.
puinsai808 Champion Author Honolulu Posts:3,529 Points:723,980 Joined:May 2011	Message Posted: Mar 30, 2012 9:15:02 AM Ignore puinsai808 Report Abuse Ditto min_fuel. The Chinese have an energy policy unlike Nobama.
min_fuel Champion Author Philadelphia Posts:1,956 Points:722,545 Joined:Jan 2008	Message Posted: Mar 30, 2012 7:24:29 AM Ignore min_fuel Report Abuse Chinese do not screw around when it comes to energy.
silverfoxv65 Champion Author Michigan Posts:4,465 Points:1,227,125 Joined:Sep 2009	Message Posted: Mar 30, 2012 3:48:21 AM Ignore silverfoxv65 Report Abuse wonder what will happen next.
hubcapLA Champion Author Louisiana Posts:3,905 Points:940,435 Joined:Apr 2009	Message Posted: Mar 30, 2012 2:12:43 AM Ignore hubcapLA Report Abuse Don't trust the Chinese any more than I trust the lier!
MN1 Champion Author Twin Cities Posts:3,344 Points:647,565 Joined:Jun 2011	Message Posted: Mar 30, 2012 2:07:33 AM Ignore MN1 Report Abuse Don't trust China.
BigZ1959 Champion Author Denver Posts:3,743 Points:1,460,300 Joined:Oct 2008	Message Posted: Mar 30, 2012 1:41:21 AM Ignore BigZ1959 Report Abuse Down
humblepie Champion Author Toledo Posts:34,089 Points:2,368,445 Joined:Mar 2006	Message Posted: Mar 30, 2012 1:33:07 AM Ignore humblepie Report Abuse maybe they could drill in the great lakes or sf bay
leemun Champion Author Utah Posts:5,513 Points:1,036,975 Joined:May 2010	Message Posted: Mar 30, 2012 12:37:30 AM Ignore leemun Report Abuse Since we don't drill, they might as well. Maybe they'll sell to us.
KhelbenArunson Champion Author Michigan Posts:4,430 Points:714,940 Joined:Apr 2008	Message Posted: Mar 30, 2012 12:30:31 AM Ignore KhelbenArunson Report Abuse Ok
joezIN Champion Author Gary Posts:1,663 Points:331,810 Joined:May 2011	Message Posted: Mar 30, 2012 12:28:26 AM Ignore joezIN Report Abuse f'em
cutter1330 Champion Author Oklahoma Posts:8,020 Points:1,691,190 Joined:Jul 2005	Message Posted: Mar 30, 2012 12:25:29 AM Ignore cutter1330 Report Abuse That's as it should be.
DirtDauber Champion Author San Antonio Posts:6,766 Points:1,624,535 Joined:Nov 2005	Message Posted: Mar 30, 2012 12:24:45 AM Ignore DirtDauber Report Abuse Why not?
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Mar 30, 2012 12:24:32 AM Ignore frostyWV Report Abuse ok
gmcgas Champion Author Atlanta Posts:5,937 Points:1,711,145 Joined:Mar 2004	Message Posted: Mar 30, 2012 12:23:24 AM Ignore gmcgas Report Abuse oooooooook
roadrunnerMO Champion Author Kansas Posts:8,391 Points:1,696,540 Joined:Jul 2008	Message Posted: Mar 30, 2012 12:21:14 AM Ignore roadrunnerMO Report Abuse Knowing the current or possibly previous CEO, I expected expansion like this long ago. Good business sense in their expansion so they have an American as CEO.
KrsnaDragon Champion Author Montreal Posts:2,392 Points:528,375 Joined:Nov 2011	Message Posted: Mar 30, 2012 12:20:23 AM Ignore KrsnaDragon Report Abuse Speculation breeds despair.
HA4CNN Champion Author Toronto Posts:5,604 Points:1,539,490 Joined:Dec 2006	Message Posted: Mar 30, 2012 12:19:23 AM Ignore HA4CNN Report Abuse Watch out the Chinese are coming.
REVLAW Champion Author San Antonio Posts:10,420 Points:2,004,320 Joined:Jul 2007	Message Posted: Mar 30, 2012 12:18:06 AM Ignore REVLAW Report Abuse Okay. Perhaps China can become a supplier of its own energy needs and reduce the strain on the global market.
CDMAuto Champion Author Connecticut Posts:3,778 Points:750,990 Joined:Apr 2011	Message Posted: Mar 30, 2012 12:17:02 AM Ignore CDMAuto Report Abuse Watch China...
jkpsr Champion Author New Jersey Posts:4,069 Points:1,099,855 Joined:Jun 2005	Message Posted: Mar 30, 2012 12:14:38 AM Ignore jkpsr Report Abuse Maybe they can stop buying Iranian oil.
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Mar 30, 2012 12:13:23 AM Ignore cmsense Report Abuse At least I don't wrap myself in the flag and pretend to be a patriot,while deriding other Americans who don't follow talking point orders from a sheeple entertainment station.Your just PATHETIC.
Ron77095 Champion Author Houston Posts:3,045 Points:599,650 Joined:Sep 2011	Message Posted: Mar 30, 2012 12:13:15 AM Ignore Ron77095 Report Abuse ok.
Double_Golden Champion Author San Francisco Posts:2,545 Points:602,460 Joined:Aug 2011	Message Posted: Mar 30, 2012 12:12:22 AM Ignore Double_Golden Report Abuse good
quasar502 Champion Author Lansing Posts:3,568 Points:798,425 Joined:Jan 2011	Message Posted: Mar 30, 2012 12:12:09 AM Ignore quasar502 Report Abuse They're C-O-M-I-N-G.
mfeldstein Champion Author Ottawa Posts:8,161 Points:1,928,430 Joined:Feb 2007	Message Posted: Mar 30, 2012 12:11:43 AM Ignore mfeldstein Report Abuse And the impact on gas prices will be ...?
RENEGADEGAS Champion Author Missouri Posts:14,894 Points:1,588,300 Joined:Jul 2008	Message Posted: Mar 30, 2012 12:09:44 AM Ignore RENEGADEGAS Report Abuse China is at least trying to do something for themselves. We are just watching everything fall apart.
vulcan96 Champion Author Ohio Posts:26,879 Points:3,100,750 Joined:Aug 2004	Message Posted: Mar 30, 2012 12:09:28 AM Ignore vulcan96 Report Abuse looks loke 41% of the population is still under the influence - you notice i did not say Americans because they are NOT Americans....
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Mar 30, 2012 12:08:37 AM Ignore cmsense Report Abuse The REAL poll will be in Nov.,when RoMoney gets his car elevator cleaned.I hope that poll made you feel better coke kid,you'll need a lot of mother's little helper after Nov.to dull the pain.
jimgraham Champion Author Akron Posts:10,357 Points:1,976,785 Joined:Oct 2007	Message Posted: Mar 30, 2012 12:08:33 AM Ignore jimgraham Report Abuse If they pump enough on their own, they will remove themselves from the competition for oil from other producers - that will certainly depress oil prices!! Drill China, drill.
72_Monte Champion Author Twin Cities Posts:7,755 Points:1,992,785 Joined:Aug 2005	Message Posted: Mar 30, 2012 12:07:23 AM Ignore 72_Monte Report Abuse Big whoop.
LilRedWagonIN Champion Author Indiana Posts:7,761 Points:1,552,210 Joined:Oct 2008	Message Posted: Mar 30, 2012 12:06:52 AM Ignore LilRedWagonIN Report Abuse learning from it's partners; translates into what they do with every other industry -- steal corporate secrets, ignore patents, and get dupes like Clinton to give away technology.
mastermariner Champion Author Texas Posts:4,236 Points:492,035 Joined:Jun 2011	Message Posted: Mar 30, 2012 12:05:46 AM Ignore mastermariner Report Abuse China is all over the globe looking for oil & gas
ron98146 Champion Author Seattle Posts:1,579 Points:963,355 Joined:Jun 2008	Message Posted: Mar 30, 2012 12:03:07 AM Ignore ron98146 Report Abuse watch out, here they come.
monieet All-Star Author California Posts:953 Points:527,280 Joined:Mar 2011	Message Posted: Mar 29, 2012 11:59:20 PM Ignore monieet Report Abuse OK!
TBONE3 Champion Author Pennsylvania Posts:8,731 Points:1,973,725 Joined:Mar 2005	Message Posted: Mar 29, 2012 11:58:46 PM Ignore TBONE3 Report Abuse They will steal OUR Shale Gas technology and go with it.
coke_kid Champion Author Chicago Posts:1,536 Points:324,370 Joined:Nov 2005	Message Posted: Mar 29, 2012 11:57:10 PM Ignore coke_kid Report Abuse Poll - 10043 - Mitt Romney vs. Obama Who would you vote for, Mitt Romney or Barack Obama? 1. Mitt Romney (49.5%) 2. Barack Obama ( 41.7%) 3. Neither ( 6.69%) Not Answered ( 1.98%) Whom do you believe has better solutions for the nation's economic problems? 1. Conservatives ( 49.8%) 2. Liberal ( 26.4%) 3. Neither ( 20.7%) Not Answered ( 2.86%)
Matt G Champion Author Boston Posts:4,518 Points:2,770,115 Joined:Jun 2004	Message Posted: Mar 29, 2012 11:53:19 PM Ignore Matt G Report Abuse Ok
allstar3 Sophomore Author Baton Rouge Posts:136 Points:71,700 Joined:Dec 2011	Message Posted: Mar 29, 2012 11:52:35 PM Ignore allstar3 Report Abuse Won't be long until this little bubble China is in pops and all goes to hell over there.
Rageagainsttm Champion Author Tampa Posts:8,288 Points:1,900,055 Joined:Jul 2007	Message Posted: Mar 29, 2012 11:52:14 PM Ignore Rageagainsttm Report Abuse cool
kosciak Champion Author Hartford Posts:1,106 Points:531,275 Joined:Aug 2011	Message Posted: Mar 29, 2012 11:51:45 PM Ignore kosciak Report Abuse ok
1momsunshine Champion Author Ottawa Posts:5,475 Points:997,555 Joined:Mar 2010	Message Posted: Mar 29, 2012 11:49:56 PM Ignore 1momsunshine Report Abuse OK
Zonk Champion Author Michigan Posts:6,466 Points:2,099,090 Joined:Oct 2005	Message Posted: Mar 29, 2012 11:48:02 PM Ignore Zonk Report Abuse I think the Chinese will be most successful with this venture.
Chris46 Champion Author Dayton Posts:23,635 Points:2,078,315 Joined:Sep 2005	Message Posted: Mar 29, 2012 11:47:21 PM Ignore Chris46 Report Abuse China has lots of money. They can afford to expand their reserves.
LoneGuy Champion Author Lansing Posts:8,465 Points:2,315,070 Joined:Aug 2005	Message Posted: Mar 29, 2012 11:46:00 PM Ignore LoneGuy Report Abuse They seem to be doing things to make themselves the new leaders of the world. Unfortunately they are still under the Communist Rule.
Z51Corvette Champion Author Austin Posts:8,475 Points:1,668,445 Joined:Jan 2008	Message Posted: Mar 29, 2012 11:44:51 PM Ignore Z51Corvette Report Abuse I don't give a rip about China right now! We need to take care of ourselves. before stretching ourselves too thin!
Urek5 Rookie Author Toronto Posts:81 Points:300,200 Joined:Mar 2012	Message Posted: Mar 29, 2012 11:41:20 PM Ignore Urek5 Report Abuse ok