20 Facts About CNOOC

China National Offshore Oil Corporation, or CNOOC Group, is one of the largest national oil companies in China, and the third-largest national oil company in China, after CNPC and China Petrochemical Corporation .

The CNOOC Group focuses on the exploitation, exploration and development of crude oil and natural gas in offshore China, along with its subsidiary COOEC.

One subsidiary, CNOOC Limited, is listed on the Hong Kong exchange; the other, China Oilfield Services, is listed on the Hong Kong and New York exchanges.

CNOOC Limited had a reputation for acting independently of the Chinese government, and had not notified government officials before bidding for UNOCAL.

In June 2014, CNOOC agreed a deal with BP worth around $20 billion that would see the latter supplying the former with liquefied natural gas.

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In 2019, CNOOC was awarded the Theoretical Technology and Major Discoveries of Deep Large-scale Condensate Gas Field Exploration in the Bohai Bay Basin by the National Award for Science and Technology Progress, a state-level science and technology award established by the Chinese State Council.

CNOOC operates in six business sectors: exploration and development of oil and gas; technical services; logistic; chemical and fertilizer production; natural gas and power generation, and financial services and insurance.

CNOOC is fifth and twelfth in gross profits and total assets of state-owned enterprises in China.

CNOOC has established CNOOC Gas and Power, which focuses on gas distribution and power generation.

CNOOC has become China's dominant producer of liquefied natural gas.

CNOOC signed all mid- and downstream contracts for the Guangdong and Fujian LNG projects and imported 3.

LNG projects in Zhejiang and Shanghai began construction, and CNOOC signed HOAs for LNG cooperation with Liaoning, Tianjin, Hebei, Hainan and Jiangsu.

CNOOC has completed its preliminary strategic natural-gas deployment in southern coastal areas up to the Yangtze River.

CNOOC had an integrated industrial portfolio as it expanded into refining.

CNOOC continued its operations in oil and gas exploration and development, exploitation of overseas resources, development of midstream and downstream business and modernization in 2005 with its goal an integrated, modern, competitive and profitable energy company by 2008.

In 2010, CNOOC began to auction oil blocks in the Wushi oil field off Zhanjiang, a region yet unprospected with rich oil reserves.

CNOOC brought LNG to China with its Dapeng LNG Terminal in Guangdong, which received its first shipment in July 2006.

In 2008, the US Treasury intimated that CNOOC cooperates with a company run by a family known for heroin trafficking.

In 2007, CNOOC was involved in a clash with Burmese workers who threw stones at the company offices.

CNOOC has been accused of participating in the persecution of Falun Gong by collaborating with the Chinese Communist Party to send Falun Gong CNOOC employees to labour camps and mind-control facilities, reducing their pay and preventing them from receiving benefits unless they renounce their beliefs.