Market Chatter: CNOOC Begins Bohai Oilfield Full Production

MT Newswires Live05-27

CNOOC (SHA:600938, HKG:0883) started full production at the Kenli 10-2 oilfield phase one in the south Bohai Sea, China, Reuters reported Wednesday, citing state media.

Daily output exceeded 20,440 barrels, according to the report.

The oilfield, with proven geological reserves over 100 million metric tons, includes a central platform and two unmanned wellhead platforms, Reuters wrote.

Shares of the oil company closed 3% lower on the Shanghai bourse and 2% on the Hong Kong bourse.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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