Cnooc Ltd., China’s biggest offshore oil and gas explorer, is considering selling its stake in Argentina’s Bridas Corp. to free up money for other projects, according to people with knowledge of the deliberations.
Oil Search Ltd., Papua New Guinea’s largest oil and gas producer, is contesting Total SA’s agreement earlier this week to acquire a stake in InterOil Corp.’s natural gas discoveries in the Pacific nation.
China, which sits on the world’s largest shale reserves, may exceed its 2015 output goal, as a new project in the nation’s southwest and the promise of fresh investment leave government targets looking outdated.
China National Petroleum Corp. already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil Corp. and Russia’s OAO Rosneft may be next on the list.
Iran will lead a club of the world’s biggest natural gas exporters as its own shipments abroad are hampered by U.S. and European Union sanctions that force the country to burn off billions of dollars worth of the fuel.
PetroChina Co., the country’s biggest oil and natural gas producer, will seek to pass on to customers the costs from its midstream businesses at Kunlun Energy Co. and liquefied natural gas transportation, according to Sanford C. Bernstein & Co.