Key Developments: CNOOC Ltd (CEO.N)

CEO.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

CNOOC Ltd declares interim dividend
Thursday, 28 Aug 2014 04:17am EDT 

CNOOC Ltd:Declares interim dividend of HK$0.25 per share (tax inclusive) for first half of 2014.Interim dividend will be paid on or around Oct. 16 to shareholders whose names appear on register of members on Sept. 19.  Full Article

CNOOC Ltd Signes PSC with Eni China B.V
Friday, 20 Jun 2014 06:49am EDT 

CNOOC Ltd:Says its parent company, China National Offshore Oil Corporation (CNOOC) has signed production sharing contract (PSC) with Eni China B.V. (Eni) for the Block 50/34 in South China Sea.Block 50/34 is located in the Qiongdongnan Basin of offshore Hainan Island with a total area of 2,000 square kilometers, is one of the blocks CNOOC offered for foreign cooperation in 2012\According to the terms of the contract.Says Eni will conduct 3D seismic survey and drill exploration well in Block 50/34 during the 6.5 years exploration period.All expenditures incurred during the exploration period will be borne by Eni. CNOOC Limited has the right to participate in up to 51 pct working interest in any commercial discoveries in the block.  Full Article

CNOOC Ltd announces pricing of guaranteed notes offering
Wednesday, 23 Apr 2014 09:30pm EDT 

CNOOC Ltd:Announces pricing of $4,000 million aggregate principal amount of guaranteed notes.The offering consists of $1,250 million of 1.625 pct. guaranteed notes due 2017, $2,250 million of 4.250 pct. guaranteed notes due 2024 and $500 million of 4.875 pct. guaranteed notes due 2044.The net proceeds from this offering are expected to be about $3,963.2 million.The proceeds are intended to be used in part for repaying all or part of a $2.0 billion facility that was entered into for the purpose of repaying part of the bridge loan that financed the company's acquisition of Nexen Inc.The remaining proceeds, will be used for general corporate purposes.BOCI Asia Limited, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank AG, Singapore Branch, Goldman Sachs (Asia) L.L.C.And J.P. Morgan Securities LLC, Morgan Stanley & Co. International plc and UBS AG, Hong Kong Branch are the joint lead managers and joint bookrunners.  Full Article

CNOOC Ltd recommends final dividend
Friday, 28 Mar 2014 04:21am EDT 

CNOOC Ltd:Recommends payment of a final dividend of HK$0.32 (tax inclusive) per share for FY 2013.To be paid on July 3 to all shareholders on the register of members of the company on June 13.  Full Article

CNOOC Ltd announces natural gas discovery in Bohai
Monday, 24 Mar 2014 05:00am EDT 

CNOOC Ltd:Recently made mid-sized natural gas discovery Bozhong 22-1 in Bohai.Bozhong 22-1 structure is located in south central Bohai.Completed drilling at depth of 4,611 meters.  Full Article

CNOOC Ltd To Examine Lng Development In British Columbia, Canada Through Nexen
Tuesday, 12 Nov 2013 06:04pm EST 

CNOOC Ltd announced that its wholly owned subsidiary Nexen Energy ULC (Nexen), has entered into an exclusive agreement with the Government of British Columbia, Canada to examine the viability of constructing a liquefied natural gas (LNG) plant and export terminal at Grassy Point near Prince Rupert, British Columbia, Canada. The agreement with the Government of British Columbia, represented by the Ministry of Forests, Lands and Natural Resource Operations, grants Nexen and its joint venture partners INPEX Corporation and JGC Corporation, the exclusive right to pursue long-term access to Crown land at Grassy Point.  Full Article

Petroleo Brasileiro Petrobras SA Leads Consortium of Total SA, Royal Dutch Shell PLC, China National Petroleum Corp and CNOOC Ltd to Win Rights to Brazil's Libra Oil Field-Reuters
Monday, 21 Oct 2013 05:56pm EDT 

Reuters reported that Brazil sold production rights to develop the offshore Libra oil area to a consortium led by Brazilian state-run oil company Petroleo Brasileiro Petrobras SA (Petrobras) in an auction with a single bid on October 21, 2013. Petrobras took 40% of the field, 10% above the legal minimum. France's Total SA and Anglo-Dutch Royal Dutch Shell PLC will each have 20% while China National Petroleum Corp and China's CNOOC Ltd will each have 10%. The companies will give 41.65% of their profit oil - or oil produced after initial investment costs are paid - to the Brazilian government under a new production-sharing contract. That minimum bid established by law was also 41.65%.  Full Article

CNOOC Ltd Declares Interim Dividend
Tuesday, 20 Aug 2013 04:18am EDT 

CNOOC Ltd announced that the board of Directors has declared an interim dividend of HKD0.25 (tax inclusive) per share (six months ended 30 June 2012: HKD0.15 (tax inclusive) per share), totalling approximately HKD11,162 million (tax inclusive) (equivalent to approximately RMB8,891 million (tax inclusive)) (six months ended June 30, 2012: approximately RMB5,459 million (tax inclusive)), based on the number of issued shares as at June 30, 2013.  Full Article

CNOOC Ltd Reaffirms FY 2013 Production Guidance-Conference Call
Tuesday, 20 Aug 2013 03:45am EDT 

CNOOC Ltd announced that for fiscal 2013, it maintains production target of 338 million to 348 million boe.  Full Article

CNOOC Ltd Signs PSC With PetroBroad Copower Limited
Friday, 5 Jul 2013 05:15am EDT 

CNOOC Ltd announced that its parent company, China National Offshore Oil Corporation has signed production sharing contract (PSC) with PetroBroad Copower Limited (PetroBroad Copower) for Block 28/03 in Pearl River Mouth Basin. Block 28/03 is located in Pearl River Mouth Basin in the east part of the South China Sea. It covers a total area of 68 square kilometers with water depths of 95 meters. According to the terms of the contract, PetroBroad Copower will conduct 3D seismic data surveys and drill exploration wells in the block during the exploration period, in which all expenditures incurred will be borne by PetroBroad Copower. CNOOC has the right to participate in up to 51% working interest in any commercial discoveries in the blocks.  Full Article

China gives cautious response to Obama's Islamic State call

BEIJING - China responded cautiously on Thursday to a call by U.S. President Barack Obama for a broad coalition to root out Islamic State militants in Iraq and Syria, saying the world should fight terror but that the sovereignty of countries must be respected.

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