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CNOOC Limited

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CNOOC Limited ( 中国海洋石油有限公司 ) is China's largest producer of offshore crude oil and natural gas , noted as such in 2010. It is a major subsidiary of China National Offshore Oil Corporation (CNOOC) and has been listed in Hong Kong SEHK :  883 since February 2001. It was listed on the New York Stock Exchange from 2001 to 2021. It was on the Toronto Stock Exchange between 2013 (following its acquisition of Nexen Inc) and 2021. It was admitted as a constituent stock of the Hang Seng Index in July 2001.

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86-550: China National Offshore Oil Corporation or CNOOC, is a state-owned enterprise based in Beijing, capital of China. In order to float most of its assets in Hong Kong stock exchange , a special purpose vehicle was incorporated in Hong Kong as an intermediate holding company, in order to transfer the control of some subsidiaries to the company. Thus, it was considered as a red chip company of

172-575: A neutral country and renounce its aspirations to join NATO. Zelenskyy replied that Putin could not be trusted to abide by such a settlement. Ukraine had been a neutral country in 2014 when Russia occupied Crimea and invaded the Donbas . On 19 February, Zelenskyy made a speech at the Munich Security Conference , calling for Western powers to drop their policy of " appeasement " towards Moscow and give

258-499: A new Novorossiya . Putin referred to the Kosovo independence precedent and NATO bombing of Yugoslavia as a justification for the annexation of Crimea and the war in Donbas, while historians note the similarities with Nazi Germany's Anschluss of Austria . Because of Russia's occupation of Crimea and its invasion of the Donbas , Ukraine's parliament voted in December 2014 to remove

344-856: A sphere of influence to try to control their neighbours". NATO underlined that it is a defensive alliance , and that it had co-operated with Russia until the latter annexed Crimea. It offered to improve communication with Russia, and to negotiate limits on missile placements and military exercises , provided Russia withdrew its troops from Ukraine's borders, but Russia did not do so. Western leaders vowed that heavy sanctions would be imposed should Putin choose to invade rather than to negotiate. French President Emmanuel Macron and German Chancellor Olaf Scholz met Putin in February 2022 to dissuade him from an invasion. According to Scholz, Putin told him that Ukraine should not be an independent state. Scholz told Ukrainian President Volodymyr Zelenskyy to declare Ukraine

430-699: A European country and the first full-scale war in Europe since the Second World War. Russia launched a simultaneous ground and air attack. Russian missiles struck targets throughout Ukraine, and Russian troops invaded from the north, east, and south. Russia did not officially declare war. It was Russia's largest combined arms operation since the Soviet Union 's Battle of Berlin in 1945. Fighting began in Luhansk Oblast at 3:40 a.m. Kyiv time near Milove on

516-477: A clear time-frame for when Ukraine could join NATO. As political analysts Taras Kuzio and Vladimir Socor agree, "when Russia made its decision to invade Ukraine, that country was more remote than ever not only from NATO membership but from any track that might lead to membership". On 21 February, Putin announced that Russia recognized the Russian-controlled territories of Ukraine as independent states:

602-456: A distorted view of Ukraine, as well as of its own history, and that these distortions were propagated through the state. In December 2021, Russia issued an ultimatum to the West , which included demands that NATO end all activity in its Eastern European member states and ban Ukraine or any former Soviet state from ever joining the alliance. Russia's government said NATO was a threat and warned of

688-520: A ground invasion were launched on a northern front from Belarus towards the capital Kyiv , a southern front from Crimea , and an eastern front from the Donbas and towards Kharkiv . Ukraine enacted martial law , ordered a general mobilization and severed diplomatic relations with Russia . Russian troops retreated from the north and the outskirts of Kyiv by April 2022, after encountering stiff resistance and logistical challenges. The Bucha massacre

774-413: A long-term BBB+ and A2, equivalent to China's government rating and the highest rating for a Chinese company. The exploration and production of oil and gas grew steadily in 2004. Output reached 36.48 million tons of oil equivalent , increasing 3.12 million tons (nine percent) over 2003. Domestic production was 24.72 million tons, an 11-percent increase from the previous year and higher than

860-526: A major escalation of the Russo-Ukrainian War , which started in 2014. The invasion, the largest and deadliest conflict in Europe since World War II , has caused hundreds of thousands of military casualties and tens of thousands of Ukrainian civilian casualties . As of 2024, Russian troops occupy about 20% of Ukraine . From a population of 41 million, about 8 million Ukrainians had been internally displaced and more than 8.2 million had fled

946-622: A measure to prevent friendly fire . Immediately after the invasion began, Zelenskyy declared martial law in Ukraine in a first video speech. The same evening, he ordered a general mobilisation of all Ukrainian males between 18 and 60 years old, prohibiting them from leaving the country. Wagner Group mercenaries and Kadyrovites contracted by the Kremlin reportedly made several attempts to assassinate Zelenskyy , including an operation involving several hundred mercenaries meant to infiltrate Kyiv with

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1032-813: A military response if it followed an "aggressive line". Some of the demands had already been ruled out by NATO. A senior US official said the US was willing to discuss the proposals, but added that there were some "that the Russians know are unacceptable". Eastern European states willingly joined NATO for security reasons, and the last time a country bordering Russia had joined was in 2004. Ukraine had not yet applied, and some members were wary of letting it join. Barring Ukraine would go against NATO's " open door " policy, and against treaties agreed to by Russia itself. NATO Secretary General Jens Stoltenberg replied that "Russia has no say" on whether Ukraine joins, and "has no right to establish

1118-779: A missile strike against Kyiv on 6 June after not directly attacking the city for several weeks. On 10 June 2022, deputy head of the SBU Vadym Skibitsky stated that during the Severodonetsk campaign, the frontlines were where the future of the invasion would be decided: "This is an artillery war now, and we are losing in terms of artillery. Everything now depends on what [the west] gives us. Ukraine has one artillery piece to 10 to 15 Russian artillery pieces. Our western partners have given us about 10% of what they have." On 29 June, Reuters reported that US Intelligence Director Avril Haines, in an update of past US intelligence assessments on

1204-478: A number of offshore vessels, including six large crane barges , namely " HYSY 202 ", "HYSY201", "Lanjing", "Blue Xinjiang", "Binhai 109", "HYSY286", "HYSY289" and "HYSY291". This Chinese corporation or company article is a stub . You can help Misplaced Pages by expanding it . China National Offshore Oil Corporation China National Offshore Oil Corporation , or CNOOC Group ( Chinese : 中国海洋石油总公司 ; pinyin : Zhōngguó Háiyáng Shíyóu Zǒnggōngsī ),

1290-554: A probative spearhead on 24 February, from Belarus south along the west bank of the Dnipro River . The apparent intent was to encircle the city from the west, supported by two separate axes of attack from Russia along the east bank of the Dnipro: the western at Chernihiv , and from the east at Sumy . These were likely intended to encircle Kyiv from the northeast and east. Russia tried to seize Kyiv quickly, with Spetsnaz infiltrating into

1376-704: A quick victory in Kyiv, Russian forces switched their strategy to indiscriminate bombing and siege warfare. On 25 March, a Ukrainian counter-offensive retook several towns to the east and west of Kyiv, including Makariv . Russian troops in the Bucha area retreated north at the end of March. Ukrainian forces entered the city on 1 April. Ukraine said it had recaptured the entire region around Kyiv, including Irpin, Bucha, and Hostomel, and uncovered evidence of war crimes in Bucha . On 6 April, NATO secretary-general Jens Stoltenberg said that

1462-492: A reconstruction conference in Switzerland that Ukraine needs $ 750bn for a recovery plan and Russian oligarchs should contribute to the cost. The invasion began on 24 February, launched out of Belarus to target Kyiv, and from the northeast against the city of Kharkiv. The southeastern front was conducted as two separate spearheads, from Crimea and the southeast against Luhansk and Donetsk. Russian efforts to capture Kyiv included

1548-459: A seafloor leak which lasted until June 7. This was followed by a second leak on June 17, which was contained within 48 hours. The leaks polluted a total of more than 840 square kilometers of clean water in Bohai Bay. Fifty-one percent of the oilfield is owned by CNOOC, and forty-nine percent owned by ConocoPhillips. The first leak was not made public until July 5, 2011. Another fire and oil spill

1634-457: A similar landing at Vasylkiv , near Vasylkiv Air Base , on 26 February. By early March, Russian advances along the west side of the Dnipro were limited by Ukrainian defences. As of 5 March, a large Russian convoy , reportedly 64 kilometres (40 mi) long, had made little progress toward Kyiv. The London-based think tank Royal United Services Institute (RUSI) assessed Russian advances from

1720-615: A strategic fit for the company. On July 20, 2005, Unocal announced that it had accepted an buyout offer from ChevronTexaco for $ 17.1 billion, which was submitted to Unocal stockholders on August 10. On August 2 CNOOC Limited announced that it had withdrawn its bid, citing political tensions in the United States. Despite a hands-off approach from the Bush administration , a group of Democrats and Republicans in Congress organized opposition to

1806-744: A terrorist state. Protests occurred around the world, with anti-war protesters in Russia being met by mass arrests and greater media censorship . The Russian attacks on civilians have led to allegations of genocide . War-related disruption to Ukrainian agriculture and shipping contributed to a world food crisis , while war-related environmental damage has been described as ecocide . The International Criminal Court (ICC) opened an investigation into crimes against humanity , war crimes , abduction of Ukrainian children , and genocide against Ukrainians. The ICC issued arrest warrants for Putin and Maria Lvova-Belova , and for four Russian military officials. After

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1892-487: A trail of abuses and environmental contamination on Ramree Island that outraged locals attacked their facilities". CNOOC's actions in Burma have been compared to that of communist officials in rural China, where entrepreneurs desiring development opposed by local residents steamroll their opposition. The Shwe gas project has been linked with land confiscation and human-rights abuses. CNOOC has been accused of participating in

1978-623: A western area of operations toward Mariupol was opened by the Southern Military District , including the 58th , 49th , and 8th Combined Arms Army , the latter also commanding the 1st and 2nd Army Corps of the Russian separatist forces in Donbas . By 7 April, Russian troops deployed to the northern front by the Russian Eastern Military District pulled back from the Kyiv offensive, reportedly to resupply and redeploy to

2064-609: Is committing severe human rights violations in occupied Ukraine. The invasion was met with widespread international condemnation . The United Nations General Assembly passed a resolution condemning the invasion and demanding a full Russian withdrawal. The International Court of Justice ordered Russia to halt military operations, and the Council of Europe expelled Russia. Many countries imposed sanctions on Russia and its ally Belarus, and provided humanitarian and military aid to Ukraine. The Baltic states and Poland declared Russia

2150-853: Is taking place since April 6, 2021, with workers missing. On July 11, 2011, an explosion occurred at the Huizhou refinery in the Daya Bay Economic and Technical Development zone in Guangdong . The refinery is 40 kilometres (25 mi) from the Daya Bay Nuclear Power Plant . In December 2020, the United States Department of Defense named CNOOC as a company "owned or controlled" by the People's Liberation Army and thereby prohibited from receiving any American investment. In response to

2236-629: Is the third-largest national oil company in China , after CNPC (parent of PetroChina ) and China Petrochemical Corporation (parent of Sinopec ). The CNOOC Group focuses on the exploitation, exploration and development of crude oil and natural gas in offshore China, along with its subsidiary COOEC. The company is owned by the government of the People's Republic of China, and the State-Owned Assets Supervision and Administration Commission of

2322-497: The 2022 Russian invasion of Ukraine the company continued doing business in Russia. For this reason Ukraine listed CNOOC as an International Sponsor of War . In June 2005, a CNOOC Group company (NYSE and Hong Kong-listed public company CNOOC limited) made an $ 18.5 billion cash offer for American oil company Unocal Corporation , topping an earlier bid by ChevronTexaco . Unocal's oil interests in Central Asia were considered

2408-665: The 29th , 35th , and 36th Combined Arms Armies . A second axis, deployed towards eastern Kyiv from Russia by the Central Military District (northeastern front), comprised the 41st Combined Arms Army and the 2nd Guards Combined Arms Army . A third axis was deployed towards Kharkiv by the Western Military District (eastern front), with the 1st Guards Tank Army and 20th Combined Arms Army . A fourth, southern front originating in occupied Crimea and Russia's Rostov oblast with an eastern axis towards Odesa and

2494-639: The Charter for European Security , affirming the right of each state "to choose or change its security arrangements" and to join alliances. In 2002, Putin said that Ukraine's relations with NATO were "a matter for those two partners". Russian forces invaded Georgia in August 2008 and took control of the breakaway regions of Abkhazia and South Ossetia , demonstrating Russia's willingness to use military force to attain its political objectives. The United States "was accused of appeasement and naivete" in their reaction to

2580-477: The Chinese State Council . In August 2023, CNOOC and Petrobras agreed on strategic cooperation in the areas of oil refining and chemical engineering, engineering and oil services, green and low-carbon energy , and crude oil trading. This will be in addition to the existing Brazilian assets of CNOOC — 7.34% of the shares in an integrated development project, the deepwater Buzios field , and 9.65% of

2666-575: The East China Sea . Internationally, it has oil and gas assets in Asia, Africa, North America, South America, and Oceania. As of December 31, 2011, the CNOOC Limited owned net proven reserves of approximately 3.19 billion barrel of oil equivalent (BOE), and its average daily net production was 909,000 BOE. CNOOC Ltd's parent, China National Offshore Oil Corporation (CNOOC), is the third largest of

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2752-669: The Philippines . In September 2018, it also signed a memorandum of understanding with Nigerian National Petroleum Corporation on the production of biofuel . In 2019, CNOOC was awarded the Theoretical Technology and Major Discoveries of Deep Large-scale Condensate Gas Field Exploration in the Bohai Bay Basin by the National Award for Science and Technology Progress, a state-level science and technology award established by

2838-681: The Russian Defence Ministry stated that the first stage of the "military operation" in Ukraine was "generally complete", that the Ukrainian military forces had suffered serious losses, and the Russian military would now concentrate on the "liberation of Donbas ." The "first stage" of the invasion was conducted on four fronts, including one towards western Kyiv from Belarus by the Russian Eastern Military District , comprising

2924-729: The Wushi oil field off Zhanjiang , a region yet unprospected with rich oil reserves. CNOOC brought LNG to China with its Dapeng LNG Terminal in Guangdong, which received its first shipment (from the NWS LNG project in Australia) in July 2006. As of 2023, 2% of CNOOC's reserves are located in Africa and 5% of CNOOC's daily production comes from Africa. In Uganda, CNOOC has partnered with Total and Tullow Oil to develop

3010-821: The dissolution of the Soviet Union in December 1991, the newly independent states of the Russian Federation and Ukraine maintained cordial relations. In return for security guarantees, Ukraine signed the Nuclear Non-Proliferation Treaty in 1994, agreeing to dismantle the nuclear weapons the former USSR had left in Ukraine. At that time, Russia, the UK, and the USA agreed in the Budapest Memorandum to uphold Ukraine's territorial integrity. In 1999, Russia signed

3096-687: The neutrality clause from the Constitution and to seek Ukraine's membership in NATO . However, it was impossible for Ukraine to join NATO at the time, as any applicant country must have no "unresolved external territorial disputes". In 2016, President of the European Commission , Jean-Claude Juncker , said that it would take 20–25 years for Ukraine to join the EU and NATO. The Minsk agreements , signed in September 2014 and February 2015, aimed to resolve

3182-520: The persecution of Falun Gong by collaborating with the Chinese Communist Party to send Falun Gong CNOOC employees to labour camps and mind-control facilities, reducing their pay and preventing them from receiving benefits (or regular wages) unless they renounce their beliefs. On June 4, 2011, the U.S. company ConocoPhillips , operating in the Penglai 19-3 oilfield, caused an oil spill from

3268-634: The "Big Three" Chinese oil companies , and traditionally specialised in offshore upstream exploration and production, whereas CNPC Group specialised in onshore upstream exploration and production, and Sinopec Group specialised in refining and marketing. These distinctions are now increasingly blurred as the three companies compete in all areas. All of the "Big Three" have vested the majority of revenue producing assets in listed Hong Kong subsidiaries. CNPC into PetroChina , Sinopec Group into Sinopec Limited, and CNOOC Group into CNOOC Limited. Through COOEC and other state owned entities, CNOOC owns and operates

3354-591: The CNOOC Limited bid. They argued that with $ 13 billion of CNOOC Limited's bid for Unocal coming from the Chinese government, the offer was not a free market transaction. American corporations were prohibited from purchasing assets in China, and it was also argued that foreign, communist ownership of oil assets might be a regional and economic-security risk; Unocal had sensitive deep-sea exploration and drilling technology. The Economist and other sources tried to discredit

3440-551: The Chinese government to increase its oversight of Chinese companies, to avoid future risks to Sino-American relations. CNOOC Limited faces challenges in the domestic market. Its rivals, CNPC and Sinopec, have been permitted to conduct offshore exploration once monopolized by CNOOC Limited. In accordance with the commitment by the Chinese government to join the World Trade Organization , the oil market will be opened to non-Chinese companies (such as ExxonMobil and BP ) by

3526-677: The Crimean Parliament . Russia annexed Crimea in March 2014, after a widely disputed referendum held under occupation. Pro-Russian unrest immediately followed in the Ukrainian cities of Donetsk and Luhansk . The war in Donbas began in April 2014 when armed Russian-backed separatists seized Ukrainian government buildings and proclaimed the independent Donetsk People's Republic and Luhansk People's Republic . Russian troops were directly involved in these conflicts. The annexation of Crimea and

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3612-775: The Donbas region in an effort to reinforce the renewed invasion of southeastern Ukraine. The northeastern front, including the Central Military District, was similarly withdrawn for resupply and redeployment to southeastern Ukraine. On 26 April, delegates from the US and 40 allied nations met at Ramstein Air Base in Germany to discuss the formation of a coalition that would provide economic support in addition to military supplies and refitting to Ukraine. Following Putin's Victory Day speech in early May, US Director of National Intelligence Avril Haines said no short term resolution to

3698-543: The Donetsk People's Republic and Luhansk People's Republic. The following day, Russia announced that it was sending troops into these territories as "peacekeepers", and the Federation Council of Russia authorised the use of military force abroad. Before 5 a.m. Kyiv time on 24 February, Putin, in another speech , announced a " special military operation ", which effectively declared war on Ukraine. Putin said

3784-713: The Fujian LNG project. CNOOC tried to acquire 12.5 percent of Australia's Gorgon field to ensure supply to the Shanghai and Zhejiang LNG projects, but the parties could not agree on a price. According to SASAC , in December 2008 CNOOC made a light oil and gas discovery in the 100-million-ton class at its Jinzhou 25-1 field in Bohai Bay . In May 2009, the company announced plans for a $ 4.38 billion coal-based natural-gas project in Shanxi . In 2010, CNOOC began to auction oil blocks in

3870-521: The Guangdong and Fujian LNG projects and imported 3.5 million tons per annum (MPTA) and 2.6 MPTA of LNG, respectively, from Australia's North Western Shelf (NWS) and Indonesia's Tangguh fields (operated by BP). LNG projects in Zhejiang and Shanghai began construction, and CNOOC signed HOAs for LNG cooperation with Liaoning, Tianjin, Hebei, Hainan and Jiangsu. CNOOC has completed its preliminary strategic natural-gas deployment in southern coastal areas up to

3956-595: The Historical Unity of Russians and Ukrainians ", in which he called Ukraine "historically Russian lands" and claimed there is "no historical basis" for the "idea of Ukrainian people as a nation separate from the Russians". Days before the invasion, Putin claimed that Ukraine never had "real statehood" and that modern Ukraine was a mistake created by the Russian Bolsheviks . American historian Timothy Snyder described Putin's ideas as Russian imperialism . British journalist Edward Lucas described it as historical revisionism. Other observers found that Russia's leadership held

4042-414: The Lake Albert basin deposit, where CNOCC is also the operator. A CNOCC subsidiary owns part of multiple enterprises in Nigeria, and stakes in enterprises in Senegal, Republic of Congo, Algeria, and Gabon. Also as of 2023, CNOCC has planned a liquified natural gas plant in Mozambique. CNOCC has a contract to buy much of the liquid natural to be produced at the plant. In October 2004, contract-sharing

4128-535: The Nanhai Refinery Project, a joint venture between CNOOC and Royal Dutch Shell and the largest joint venture ever in China (with an annual capacity of 12 million tons). CNOOC had an integrated industrial portfolio as it expanded into refining. Shell built a $ 4.3 billion JV ethylene plant, but announced in 2007 that it would not build a $ 2.4 billion refinery. CNOOC Limited's share price rose by 37 percent in 2004, and its market capitalization reached RMB181.68 billion. CNOOC Engineering's share price on

4214-401: The Russian "retraction, resupply, and redeployment" of their troops from the Kyiv area should be interpreted as an expansion of Putin's plans for Ukraine, by redeploying and concentrating his forces on eastern Ukraine. Kyiv was generally left free from attack apart from isolated missile strikes. One did occur while UN Secretary-General António Guterres was visiting Kyiv on 28 April to discuss

4300-411: The Russian invasion", was not entirely sure of the comment's accuracy. Reporter Glenn Kessler said it came from "a single source, but on the surface it appears to be a good one." Russian forces advancing on Kyiv from Belarus gained control of the ghost town of Chernobyl . Russian Airborne Forces attempted to seize two key airfields near Kyiv, launching an airborne assault on Antonov Airport , and

4386-442: The Russian invasion, said that US intelligence agencies agree that the invasion will continue "for an extended period of time ... In short, the picture remains pretty grim and Russia's attitude toward the West is hardening." On 5 July, BBC reported that extensive destruction by the Russian invasion would cause immense financial damage to Ukraine's reconstruction economy, with Ukrainian Prime Minister Denys Shmyhal telling nations at

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4472-588: The Shanghai Stock Exchange rose by 66.11 percent, and the market capitalization of China Oilfield Services reached RMB10.1 billion. At the end of 2004 market capitalization of the three subsidiaries had approached RMB200 billion, 3.3 times their net assets. The company continued its operations in oil and gas exploration and development, exploitation of overseas resources, development of midstream and downstream business and modernization in 2005 with its goal an integrated, modern, competitive and profitable energy company by 2008. Under ex-CEO Wei Liucheng (who

4558-424: The State Council (SASAC) assumes shareholder rights and obligations on the government's behalf. One subsidiary, CNOOC Limited , is listed on the Hong Kong Stock Exchange ; the other, China Oilfield Services , is listed on the Hong Kong and New York Stock Exchanges . In the 2020 Forbes Global 2000 , CNOOC was ranked as the 126th largest public company in the world. In 2023, the company's seat in Forbes Global 2000

4644-403: The Yangtze River. In these projects, CNOOC is responsible for constructing LNG receiving terminals and trunk lines for gas transmission and gas-fired power plants . In April 2004, the Ministry of Commerce authorized CNOOC-SINOPEC United International Trading to import crude oil; CNPC, Sinopec, Sinochem and Zhuhai Zhenrong had been the only companies importing crude. In July the NDRC approved

4730-400: The agreement, choosing closer ties to the Russian-led Eurasian Economic Union instead. This coerced withdrawal triggered a wave of protests known as Euromaidan , culminating in the Revolution of Dignity in February 2014. Yanukovych fled and was removed from power by parliament, ending up in Russia. Russian soldiers with no insignia occupied the Ukrainian territory of Crimea, and seized

4816-401: The aim of killing the Ukrainian president. The Ukrainian government said anti-war officials within Russia's FSB shared the plans with them. Zelenskyy appeared defiant in his first and following video message , showing in another on 25 February, that he and his cabinet is still in Kiyv. On 26 February NATO met and its countries pledged military aid for Ukraine and on 27 February Germany called

4902-521: The average national growth rate of three percent. The annual output in Bohai Bay exceeded 10 million tons of oil equivalent for the first time, making it the second offshore area producing over 10 million tons (after the Eastern South Sea) and an energy-production base in northern China. CNOOC has established CNOOC Gas and Power, which focuses on gas distribution and power generation. CNOOC has become China's dominant producer of liquefied natural gas . The company signed all mid- and downstream contracts for

4988-421: The border with Russia. The main infantry and tank attacks were launched in four spearheads, creating a northern front launched towards Kyiv from Belarus, a southern front from Crimea, a southeastern front from Russian-controlled Donbas, and an eastern front from Russia towards Kharkiv and Sumy . Russian vehicles were subsequently marked with a white Z military symbol (a non- Cyrillic letter ), believed to be

5074-413: The city supported by airborne operations and a rapid mechanised advance from the north, but failed. The United States contacted Zelenskyy and offered to help him flee the country, lest the Russian Army attempt to kidnap or kill him on seizing Kyiv; Zelenskyy responded that "The fight is here; I need ammunition, not a ride." The Washington Post , which described the quote as "one of the most-cited lines of

5160-549: The company generated revenue of RMB70.92 billion, a net profit of RMB 24.22 billion and RMB 12.09 billion in taxes (up 32 percent, 62 percent and 80 percent, respectively, from the previous year). By the end of 2004 total and net assets had reached RMB153.26 billion and 83.06 billion, a 28- and 21-percent increase from the beginning of the year. The company is fifth and twelfth in gross profits and total assets of state-owned enterprises in China. Standard & Poor's and Moody's Investors Service assigned CNOOC

5246-440: The conflict, but ceasefires and further negotiations repeatedly failed. There was a large Russian military build-up near the Ukraine border in March and April 2021, and again in both Russia and Belarus from October 2021 onward. Members of the Russian government, including Putin, repeatedly denied having plans to invade or attack Ukraine, with denials being issued up to the day before the invasion. The decision to invade Ukraine

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5332-417: The country by April 2023, creating Europe's largest refugee crisis since World War II. In late 2021, Russia massed troops near Ukraine's borders and issued demands including a ban on Ukraine ever joining the NATO military alliance. After repeatedly denying having plans to attack Ukraine, on 24 February 2022, Russian president Vladimir Putin announced a " special military operation ", saying that it

5418-582: The end of 2006. CNOOC Limited's smaller domestic competitors have been trying to break the monopoly of the three major NOCs in the industry. In conjunction with 2009 failed deal between Aluminum Corporation of China and mining giant Rio Tinto , CNOOC's failed UNOCAL deal was perceived in China as part of a coordinated effort in the West to hinder China's economic growth. Adding 61 percent to Nexen's July 20, 2012 stock price, on July 23 CNOOC agreed to buy Nexen for $ 15.1 billion (China's largest foreign deal). The Canadian government's Investment Canada Act

5504-411: The exchange, due to its government background but incorporated outside mainland China. As of 31 March 2020, the company had a market capitalization of HK$ 363 billion . In October 2024, CNOOC signed an Exploration, Development & Production Contract (EDPC) with Midland Oil Company , an Iraqi state-run oil company. Its core domestic operation areas are in Bohai , the South China Sea , and

5590-646: The executive order, in February 2021, NYSE commenced the process of delisting CNOOC. Russian invasion of Ukraine Eastern Ukraine campaign Southern Ukraine campaign Other regions Naval operations Spillover & related incidents Eastern Ukraine campaign Southern Ukraine campaign Other regions Spillover & related incidents Eastern Ukraine campaign Southern Ukraine campaign Other regions Naval operations Spillover & related incidents Post-Minsk II conflict Attacks on civilians Related On 24 February 2022, Russia invaded Ukraine in

5676-432: The illegal annexation of four partly-occupied provinces . In November, Ukraine liberated Kherson . In June 2023, Ukraine launched another counteroffensive in the southeast, but made few gains. After small but steady Russian advances in the east in the first half of 2024, Ukraine launched a cross-border offensive into Russia's Kursk Oblast in August of that year. The United Nations Human Rights Office reports that Russia

5762-534: The invasion a historic watershed. That day in the evening Putin put Russia's nuclear deterrence into alert. The Russian invasion was unexpectedly met by fierce Ukrainian resistance. In Kyiv, Russia failed to take the city and was repulsed in the battles of Irpin , Hostomel , and Bucha . The Russians tried to encircle the capital, but its defenders under Oleksandr Syrskyi held their ground, effectively using Western Javelin anti-tank missiles and Stinger anti-aircraft missiles to thin Russian supply lines and stall

5848-840: The invasion should be expected. Ukraine's reliance on Western-supplied equipment constrained operational effectiveness, as supplying countries feared that Ukraine would use Western-made matériel to strike targets in Russia. Military experts disagreed on the future of the conflict; some suggested that Ukraine should trade territory for peace, while others believed that Ukraine could maintain its resistance due to Russian losses. By 30 May, disparities between Russian and Ukrainian artillery were apparent, with Ukrainian artillery being vastly outgunned, in terms of both range and number. In response to US President Joe Biden 's indication that enhanced artillery would be provided to Ukraine, Putin said that Russia would expand its invasion front to include new cities in Ukraine. In apparent retribution, Putin ordered

5934-431: The invasion. In 2013, Ukraine's parliament overwhelmingly approved finalising an association agreement with the European Union (EU). Russia had put pressure on Ukraine to reject it. Kremlin adviser Sergei Glazyev warned in September 2013 that if Ukraine signed the EU agreement, Russia would no longer acknowledge Ukraine's borders. In November, Ukrainian president Viktor Yanukovych suddenly withdrew from signing

6020-434: The latter supplying the former with liquefied natural gas. On June 5, 2018, CNOOC Gas and Power Group Co. Ltd., a subsidiary of China National Offshore Oil Corporation (CNOOC), China's largest LNG importer and terminal operator, has recently signed a memorandum of understanding (MOU) with the Philippine fuel retailer Phoenix Petroleum to study, plan, and develop a liquefied natural gas (LNG) receiving terminal project in

6106-441: The north and east as "stalled." Advances from Chernihiv largely halted as a siege began there . Russian forces continued to advance on Kyiv from the northwest, capturing Bucha , Hostomel and Vorzel by 5 March, though Irpin remained contested as of 9 March. By 11 March, the lengthy convoy had largely dispersed and taken cover. On 16 March, Ukrainian forces began a counter-offensive to repel Russian forces. Unable to achieve

6192-636: The offensive. On the southern front, Russian forces had captured the regional capital of Kherson by 2 March. A column of Russian tanks and armoured vehicles was ambushed on 9 March in Brovary and sustained heavy losses that forced them to retreat. The Russian army adopted siege tactics on the western front around the key cities of Chernihiv, Sumy and Kharkiv, but failed to capture them due to stiff resistance and logistical setbacks. In Mykolaiv Oblast , Russian forces advanced as far as Voznesensk , but were repelled and pushed back south of Mykolaiv. On 25 March,

6278-406: The operation was to "protect the people" of the Russian-controlled breakaway republics. He falsely claimed that they had "been facing humiliation and genocide perpetrated by the Kyiv regime." Putin said that Russia was being threatened: he falsely claimed that Ukrainian government officials were neo-Nazis under Western control, that Ukraine was developing nuclear weapons, and that a hostile NATO

6364-404: The security threat, and CNOOC was willing to undergo a US security review. Congressional delays and calls for inquiry deterred the CNOOC Limited bid. The company was advised by Goldman Sachs . CNOOC Limited had a reputation for acting independently of the Chinese government, and had not notified government officials before bidding for UNOCAL. The political backlash in the United States caused

6450-940: The shares in the development of the Mero oil field. In May 2023, CNOOC reported that a demonstration project of a deep-sea floating wind farm «Haiyou Guanlan», located near the Wenchang oil fields in the west of the South China Sea , 136 kilometers from the shore and 120 meters deep, fed electricity into the grid. With an installed capacity of 7.25 MW, the platform can produce up to 22 million kWh of electricity. This could save almost 10 million cubic metres of natural gas and reduce carbon dioxide emissions by 22,000 tons per year. CNOOC operates in six business sectors: exploration and development of oil and gas; technical services; logistic; chemical and fertilizer production; natural gas and power generation, and financial services and insurance. In 2004,

6536-407: The survivors of the siege of Mariupol with Zelenskyy. One person was killed and several were injured in the attack. Russian forces advanced into Chernihiv Oblast on 24 February, besieging its administrative capital within four days of fighting . On 25 February Ukrainian forces lost control over Konotop . As street fighting took place in the city of Sumy , just 35 kilometres (22 mi) from

6622-404: The war in Donbas sparked a wave of Russian nationalism . Analyst Vladimir Socor called Putin's 2014 speech following the annexation a "manifesto of Greater-Russia irredentism ". Putin began referring to " Novorossiya " (New Russia), a former Russian imperial territory that covered much of southern Ukraine. Russian-backed forces were influenced by Russian neo-imperialism and sought to create

6708-598: Was 85. When the State Council implemented the regulation of the people's petroleum resources in cooperation with foreign enterprises on January 30, 1982, CNOOC was incorporated and authorized to assume overall responsibility for the exploitation of oil and gas resources of offshore China in cooperation with foreign partners, which ensured monopoly status for CNOOC in offshore oil and natural gas. With its headquarters in Beijing, CNOOC registered with capital of RMB 94.9 billion and has more than 98,750 employees. Following

6794-407: Was building up its forces and military infrastructure in Ukraine. He said Russia sought the "demilitarization and denazification" of Ukraine, and espoused views challenging the legitimacy of the Ukrainian state. Putin said he had no plans to occupy Ukraine. The invasion began within minutes of Putin's speech. The invasion began at dawn on 24 February. It was described as the biggest attack on

6880-414: Was involved in a clash with Burmese workers who threw stones at the company offices. Ten workers from Kyaukphyu were detained and questioned by authorities after a dispute with CNOOC over low wages, long hours, reported underpayment and the mistreatment of inhabitants. In 2008, CNOOC was accused of abuses of human rights in Burma . Arakan Oil Watch stated in a report that the company "left behind such

6966-499: Was negotiated in Burma by Myanmar Oil and Gas Enterprise, China Huanqiu Contracting and Engineering Corporation and CNOOC's Singaporean joint-venture partner, Golden Aaron . Golden Aaron is run by Cecilia Ng, wife of Steven Law ; Law is the son of Lo Hsing Han , known as the "godfather of heroin ". In 2008, the US Treasury intimated that CNOOC cooperates with a company run by a family known for heroin trafficking. In 2007, CNOOC

7052-669: Was promoted to the governor of Hainan province in October 2003) and chairman and chief executive Fu Chengyu (傅成玉), CNOOC undertook a number of mergers and acquisitions. It acquired five blocks in Indonesia from Spanish oil company Repsol in 2002, becoming its largest offshore operator. In 2003, it bought 5.3 percent of the NWS, ensuring supplies for the Guangdong LNG project; that year, it also acquired 12.5 percent of Tangguh to ensure supply to

7138-512: Was reportedly made by Putin and a small group of war hawks or siloviki in Putin's inner circle, including national security adviser Nikolai Patrushev and defence minister Sergei Shoigu . Reports of an alleged leak of Russian Federal Security Service (FSB) documents by US intelligence sources said that the FSB had not been aware of Putin's plan to invade. In July 2021, Putin published an essay " On

7224-522: Was to support the Russian-backed breakaway republics of Donetsk and Luhansk , whose paramilitary forces had been fighting Ukraine in the Donbas conflict since 2014. Putin espoused irredentist and neo-imperialist views challenging Ukraine's legitimacy as a state, falsely claimed that Ukraine was governed by neo-Nazis persecuting the Russian minority , and said that Russia's goal was to "demilitarize and denazify" Ukraine. Russian air strikes and

7310-439: Was uncovered after their withdrawal. In the southeast, Russia launched an offensive in the Donbas and captured Mariupol after a destructive siege . Russia continued to bomb military and civilian targets far from the front, and struck the energy grid through the winter months. In late 2022, Ukraine launched successful counteroffensives in the south and east , liberating most of Kharkiv province . Soon after, Russia announced

7396-517: Was used to determine if the sale was a "net benefit" to Canada. In addition to Canadian authorities, the acquisition had to be approved by the Committee on Foreign Investment in the United States . On 7 December the sale was approved by the Canadian government, and on February 12, 2013, it was approved by U.S. regulators. In June 2014, CNOOC agreed a deal with BP worth around $ 20 billion that would see

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