Exxon Tries to Put the Worst Behind it With $20 Billion Writedown
By Jennifer Hiller HOUSTON, Nov 30 (Reuters) – Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion,...
BEIJING–China National Offshore Oil Corp., known as Cnooc, said Thursday that it has discovered natural gas at an offshore deep well after drilling more than 5,000 meters in northeastern Bohai Bay.
This is the first gas discovery in Bohai, it said in a statement on its website, adding that it was a “technological breakthrough.” The company didn’t mention the volume of the discovery.
Five offshore oil discoveries were made in Bohai in the first three months of this year and the area will remain the company’s major growth engine in the future, Cnooc Ltd. (CEO) Chief Financial Officer Zhong Hua said in April.
Copyright © 2012 Dow Jones & Company, Inc.
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