CNOOC Expands Presence in South China Sea with New Projects

China’s network of subsea pipelines has reached a total length of 10,000 kilometers, CNOOC reported this week. The news was hailed by media as a milestone in offshore oil and gas development in the world’s largest importer of energy commodities as it seeks to change that status. China has been working to boost its domestic oil and gas production, both onshore and offshore, to reduce its reliance on imports, which, in crude oil, topped 12 million barrels daily earlier in the year. The pipeline network milestone is part of those efforts,…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com