Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. CNOOC Limited
  6. News
  7. Summary
    883   HK0883013259

CNOOC LIMITED

(883)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

CNOOC : Guyana re-launches search for company to market government's crude

07/12/2021 | 10:56am EDT

GEORGETOWN, July 12 (Reuters) - Guyana is re-launching a search for a company to market the government's share of crude oil produced off the South American country's coast to make the tender process "simpler and more competitive," the natural resources minister said on Monday.

According to the notice published late last week, companies will have until Aug. 3 to submit their bids to "competitively market and maximize the value" of the government's allotment and to "create a competitive market" for Liza crude produced by a consortium led by Exxon Mobil Corp.

The re-launch comes after President Irfaan Ali's government discarded a previous tender it issued in August 2020, which received 29 bids. But the government said in February it was forced to disqualify 28 of those companies, blaming criteria set by the prior administration.

"It's basically to level the playing field," Natural Resources Minister Vickram Bharrat told Reuters, adding that the previous criteria disqualified experienced companies such as Hess Corp and Royal Dutch Shell, both of which have marketed some of the government's crude cargoes.

Bharrat added that with the new tender, the government was seeking to "bring more revenue or benefits to Guyana."

The Exxon-led consortium, which also includes Hess Corp and China's CNOOC Ltd, has discovered more than 8 billion barrels of oil and gas off Guyana's coast, transforming the poor country into the world's newest energy hotspot.

The government is contractually entitled to a portion of the crude produced by Exxon, but with no state oil company nor domestic refining capacity, the government relies on external firms to market its share of the oil.

(Reporting by Neil Marks Writing by Luc Cohen Editing by Marguerita Choy)


© Reuters 2021
All news about CNOOC LIMITED
01:19aSinopec Acting Chairman Sees China Oil Consumption Peaking Around 2026
MT
09/16SAUDI ARABIAN OIL : Guyana grants Saudi Aramco unit one-year contract to market ..
RE
09/15CNOOC : China calls for better reporting of mineral reserves for energy security
RE
09/15China to Launch First Crude Oil Auction Next Week; Oil Stocks Rise
MT
09/13Hang Kong Hang Seng Down 1.5% on Tech Slump, Beijing Regulatory Outlook
MT
09/13Hong Kong shares drop, dragged lower by tech on latest crackdown
RE
09/09China to Auction Crude Oil Reserves as Commodity Prices Surge
MT
09/09Exxon Mobil discloses another oil discovery offshore Guyana
RE
09/09EXXON MOBIL : Makes Discovery Offshore Guyana
MT
09/09ExxonMobil Builds on Guyana Resource Estimate With New Discovery
DJ
More news
Analyst Recommendations on CNOOC LIMITED
More recommendations
Financials
Sales 2021 234 B 36 195 M 36 195 M
Net income 2021 69 213 M 10 728 M 10 728 M
Net Debt 2021 101 B 15 634 M 15 634 M
P/E ratio 2021 5,18x
Yield 2021 8,42%
Capitalization 360 B 46 234 M 55 779 M
EV / Sales 2021 1,97x
EV / Sales 2022 1,84x
Nbr of Employees 18 151
Free-Float 35,0%
Chart CNOOC LIMITED
Duration : Period :
CNOOC Limited Technical Analysis Chart | 883 | HK0883013259 | MarketScreener
Technical analysis trends CNOOC LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 21
Last Close Price 8,07 CNY
Average target price 9,90 CNY
Spread / Average Target 22,7%
EPS Revisions
Managers and Directors
Ke Qiang Xu Chief Executive Officer & Executive Director
Qing Long Xia President & Executive Director
Wei Zhi Xie Chief Financial Officer
Dong Jin Wang Chairman
Xiaonan Wu Joint Secretary & Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
CNOOC LIMITED12.40%47 209
CONOCOPHILLIPS48.11%79 314
EOG RESOURCES, INC.48.33%43 188
CANADIAN NATURAL RESOURCES LIMITED43.31%40 986
PIONEER NATURAL RESOURCES COMPANY39.31%38 309
ECOPETROL S.A.16.48%28 158