Makes me wonder how a real force could be put together:
Posted by: oilphant
In reply to: None Date:3/8/2007 11:29:16 PM
Post #of 107348
Addax&Equator announcements small fries, Chevron&Sinopec announcement will be the one to put focus on JDZ for the next round
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Posted by: Nightdaytrader
In reply to: None Date:3/8/2007 11:48:16 PM
Post #of 107348
Chevron could partner with China oil producers
By Joe Carroll Bloomberg News
Published: September 14, 2006
Chevron, the second-largest U.S. oil company after ExxonMobil, is in talks to join with Chinese petroleum producers on exploration and production projects one year after beating out Cnooc, a Chinese oil company, to acquire Unocal.
The company is in discussions with Cnooc, PetroChina and China Petroleum & Chemical, known as Sinopec, "to explore partnership opportunities both inside and outside of China," said Steve Del Regno, managing director of Chevron's liquefied natural gas trading business in Asia. The talks could lead to joint development of oil and gas deposits, he said.
Chevron, which opened an office in Beijing earlier this year, seeks to capitalize on growing petroleum demand in the world's most populous nation. Cnooc is already a partner with Chevron and Woodside Petroleum in a gas export project off the coast of Western Australia that made its first shipment of liquefied natural gas, or LNG, to China in June.
"Cnooc and Sinopec are looking for U.S. partners so they can gain access to oil for China," said Mark Kajita, a fund manager at Baker Boyer Bancorp.
The chief executive officer of Chevron, David O'Reilly, has expanded in Asia to tap oil and gas reserves close to booming markets in China and India. The San Ramon, California-based company bought a $300 million stake in Reliance Petroleum of India in April that is expected to help finance a new refinery in Gujarat and open the door to exploration deals with Reliance's parent.
"Chevron views China as an important market for LNG in the future, and we want to remain engaged with potential customers and trading partners here," Del Regno said Tuesday at the U.S.-China Oil & Gas Industry Forum in Hangzhou, China. "We value this relationship and hope it continues to grow."
Sinopec, the largest Asian maker of gasoline, diesel and other fuels refined from crude oil, could also be interested in gaining access to Chevron's network of filling stations to increase Sinopec's share of the global retail fuels market, Kajita, of Baker Boyer, said.
Cnooc abandoned an $18.5 billion cash bid for Unocal in August 2005, after concluding that U.S. lawmakers would scuttle any deal on the grounds of national security.
Chevron, the second-largest U.S. oil company after ExxonMobil, is in talks to join with Chinese petroleum producers on exploration and production projects one year after beating out Cnooc, a Chinese oil company, to acquire Unocal.
The company is in discussions with Cnooc, PetroChina and China Petroleum & Chemical, known as Sinopec, "to explore partnership opportunities both inside and outside of China," said Steve Del Regno, managing director of Chevron's liquefied natural gas trading business in Asia. The talks could lead to joint development of oil and gas deposits, he said.
Chevron, which opened an office in Beijing earlier this year, seeks to capitalize on growing petroleum demand in the world's most populous nation. Cnooc is already a partner with Chevron and Woodside Petroleum in a gas export project off the coast of Western Australia that made its first shipment of liquefied natural gas, or LNG, to China in June.
"Cnooc and Sinopec are looking for U.S. partners so they can gain access to oil for China," said Mark Kajita, a fund manager at Baker Boyer Bancorp.
The chief executive officer of Chevron, David O'Reilly, has expanded in Asia to tap oil and gas reserves close to booming markets in China and India. The San Ramon, California-based company bought a $300 million stake in Reliance Petroleum of India in April that is expected to help finance a new refinery in Gujarat and open the door to exploration deals with Reliance's parent.
"Chevron views China as an important market for LNG in the future, and we want to remain engaged with potential customers and trading partners here," Del Regno said Tuesday at the U.S.-China Oil & Gas Industry Forum in Hangzhou, China. "We value this relationship and hope it continues to grow."
Sinopec, the largest Asian maker of gasoline, diesel and other fuels refined from crude oil, could also be interested in gaining access to Chevron's network of filling stations to increase Sinopec's share of the global retail fuels market, Kajita, of Baker Boyer, said.
Cnooc abandoned an $18.5 billion cash bid for Unocal in August 2005, after concluding that U.S. lawmakers would scuttle any deal on the grounds of national security.
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