A security officer keeps watch outside the headquarters of China National Offshore Oil Corp (CNOOC) in Beijing in this February 19, 2008 file photograph. China's top offshore oil producer CNOOC, which is bidding $15.1 billion for Canadian oil producer Nexen Inc, posted a 19 percent fall in first-half net profit on August 21, 2012, due to lower production caused by an oil spill and increased costs. The state-controlled CNOOC posted January-June net profit of 31.87 billion yuan ($5.01 billion), compared with 39.34 billion yuan a year earlier and an average forecast of 34.2 billion yuan by seven analysts polled by Reuters. REUTERS/Claro Cortes IV/Files (CHINA - Tags: POLITICS ENERGY BUSINESS)
CALGARY, Alberta: CNOOC Ltd’s Nexen Energy and Inpex Corp will end the feasibility study for the Aurora liquefied natural gas project in Canada’s British Columbia province, the former company said in a statement on Thursday.
“Aurora LNG has determined that the current macro-economic environment does not currently support the partners’ vision of developing a large LNG business,” the company said. - Reuters
(In July. Petronas had aborted its majority-owned C$36bil Pacific NorthWest LNG project on Lelu Island in British Columbia given the low LNG prices.)
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