Thursday, February 9, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Natural Gas

Chinese Oil Giant CNPC Eyes BP’s $1.5 Billion Stake in Oman Gas Field

July 31, 2020
in Natural Gas
Chinese Oil Giant CNPC Eyes BP’s $1.5 Billion Stake in Oman Gas Field
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

Why Iran And China Are Pushing Iraq To Boost Oil Production | OilPrice.com

Oil Prices Inch Higher On Surprise Crude Draw | OilPrice.com

Natural Gas Prices Are Coiling With A Big Move Coming Soon

(Bloomberg) — China National Petroleum Corp. is in talks to acquire part of BP Plc’s stake in a key gas field in Oman, according to people familiar with the matter.



Logo of PetroChina Co. is displayed at one of the company's gas station in Beijing, China, on Friday, March 4, 2016.


© Bloomberg
Logo of PetroChina Co. is displayed at one of the company’s gas station in Beijing, China, on Friday, March 4, 2016.

China’s state-owned oil giant is having advanced discussions with BP for a 10% stake in the Khazzan natural gas field, the people said. The minority stake could fetch about $1.5 billion, said the people, asking not to be identified as the matter is private.

Loading...

Load Error

No final decisions have been made and others have also expressed interest in the asset, the people said. Representatives for BP and CNPC declined to comment.

BP was in early talks to sell about a 10% stake in the Khazzan natural gas field, Bloomberg News reported in June. The oil major owns a 60% stake in the project, while its partner Oman Oil Co. still has a 30% stake after it sold a 10% holding to Malaysia’s state oil company in 2018.

China has been stepping up its presence in the Middle East as Beijing wants to increase its global influence and revive ancient trading routes under the Belt and Road initiative. Last year, State Grid Corp. of China agreed to acquire a 49% stake in Oman’s state-owned power transmission company in the first major privatization by the Middle East’s largest non-OPEC oil producer.

CNPC has operations in five Middle Eastern countries, including Oman, according to its website. It started in Oman with an acquisition of a 50% interest in oil field Block 5 in 2002. The Chinese oil giant paid about $1.2 billion in 2018 for stakes in two oil and natural gas concessions in Abu Dhabi.

BP shares declined 3.6% Thursday, as Brent crude futures fell the most in more than a month following dramatic U.S. economic data. The recovery in global oil demand is faltering amid the resurgence in coronavirus, even as the OPEC cartel and partners, including Oman, next week plan to resume some of the crude output halted during the depths of the pandemic.

(Updates with BP share performance in seventh paragraph.)

For more articles like this, please visit us at bloomberg.com

©2020 Bloomberg L.P.

Gallery: Chinese companies quietly buying up the world (Lovemoney)



a tall building: China's interest in owning global businesses goes back to 1999 when it introduced its Go Out Policy, which gave financial incentives to invest overseas. And after the 2008 financial crisis many struggling businesses around the world turned to Chinese investors in order to survive. Now that the coronavirus pandemic has driven many of the world's countries into recession, some nations have aired concerns about overseas ownership of domestic companies, fearing that Chinese state-owned and state-linked enterprises could exploit the forthcoming economic crisis. As relations between Western countries and China have been strained of late, notably because of the US-China trade war and China's actions in Hong Kong, these worries have become even more pronounced. Click or scroll through to find out more about China's moves into Western countries and companies over the years. 

Continue Reading



Read More: Chinese Oil Giant CNPC Eyes BP’s $1.5 Billion Stake in Oman Gas Field

Tags: BillionBPsChineseCNPCEyesFieldGasGiantoilOmanstake

Related Posts

Why Iran And China Are Pushing Iraq To Boost Oil Production | OilPrice.com
Natural Gas

Why Iran And China Are Pushing Iraq To Boost Oil Production | OilPrice.com

by Oil Market
July 30, 2020
0

There are four key reasons why Iraq is increasing the pace of development on a number of its major...

Read more
Oil Prices Inch Higher On Surprise Crude Draw | OilPrice.com
Natural Gas

Oil Prices Inch Higher On Surprise Crude Draw | OilPrice.com

by Oil Market
July 29, 2020
0

The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 6.829 million barrels for...

Read more
Natural Gas Prices Are Coiling With A Big Move Coming Soon
Natural Gas

Natural Gas Prices Are Coiling With A Big Move Coming Soon

by Oil Market
July 29, 2020
0

Welcome to the coil edition of Natural Gas Daily! Housekeeping item first. For the week of 7/24, we have...

Read more
Natural Gas Price Prediction – Prices Slide as Hanna Fades
Natural Gas

Natural Gas Price Prediction – Prices Slide as Hanna Fades

by Oil Market
July 28, 2020
0

Natural gas prices eased on Monday as Tropical Storm Hanna faded as it hit the Texas coast. There is...

Read more
Deutsche Bank Immediately Ends Funding For Oil Sands And Arctic Oil
Natural Gas

Deutsche Bank Immediately Ends Funding For Oil Sands And Arctic Oil

by Oil Market
July 28, 2020
0

Deutsche Bank is ending financing for new oil and gas projects in the oil sands and the Arctic region...

Read more
Noble Energy’s buyout: what it means for Cyprus’ gas – Oil & Gas 360
Natural Gas

Noble Energy’s buyout: what it means for Cyprus’ gas – Oil & Gas 360

by Oil Market
July 27, 2020
0

Cyprus Mail Oil & Gas 360 Publishers Note: This is part a larger issue going on in the Mediterranean....

Read more
Next Post
New U.S. permit to boost Keystone pipeline oil exports by next year: TC

New U.S. permit to boost Keystone pipeline oil exports by next year: TC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Oil & Gas Daily Flow – Bahamas Petroleum and Hague and London Oil

Oil & Gas Daily Flow – Bahamas Petroleum and Hague and London Oil

3 years ago
Norway-linked Firms Might Bid for Petrobras’ Golfinho Field Offshore Brazil

Norway-linked Firms Might Bid for Petrobras’ Golfinho Field Offshore Brazil

3 years ago
BP Wraps Sale of Alaska Business

BP Wraps Sale of Alaska Business

3 years ago
Petrobras’ Ceara Cluster Shallow Water Fields Up for Sale

Petrobras’ Ceara Cluster Shallow Water Fields Up for Sale

3 years ago
Why Iran And China Are Pushing Iraq To Boost Oil Production | OilPrice.com

Why Iran And China Are Pushing Iraq To Boost Oil Production | OilPrice.com

3 years ago
TABLE-UAE’s Fujairah oil stocks for week ended June 8, fuel oil sets record

Factbox: Operations at major Asian oil refiners in June-July

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com