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The Coming Oil Shock.(International Edition; Energy Strategy)
Byline: Rana Foroohar
One of the many reasons that oil prices spiked to $150 earlier this year is that in the 1990s, when prices were $12 a barrel, oil firms stopped looking for new reserves. That resulted in supply shortages and, when demand for oil picked up this decade, spiraling oil price inflation.
Now the same vicious cycle may be starting again. At a recent conference in Barcelona, Fu Chengyu, the head of the Chinese state oil giant CNOOC, said that he had met with the heads of 27 state oil firms, and that some 60 percent of planned exploration and development projects slated to begin in the next two years were being canceled because they were pegged to $70 ...
- Fu Chengyu appointed as new CNOOC GM.
- Newspaper article from: China Business News October 17, 2003 700+ words
Fu Chengyu appointed as new CNOOC GM Shanghai October 17. INTERFAX-CHINA - Fu Chengyu, chairman and CEO of Hong Kong-listed China Oilfield Services Ltd. (COSL), has become the official successor to Wei Liucheng as the general manager for...
- CNOOC tends to expand in capital; people have got to know Fu Chengyu and CNOOC...
- Magazine article from: China Chemical Reporter October 6, 2005 700+ words
Purchase tender When Fu Chengyu was appointed general manager of...CNOOC to conduct overseas purchases. Fu Chengyu discovered that the output and reserves...be saved. As was pointed out by Fu Chengyu, "the market value will be much...
- STATEMENT BY FU CHENGYU, CHAIRMAN & CEO OF CNOOC.
- News wire article from: AsiaPulse News June 24, 2005 700+ words
(Full text of a statement. Contact details below) BEIJING, June 24 /Xinhua-PRNewswire-AsiaNet/ - We are extremely pleased that Unocal has indicated today they will begin engaging in talks concerning our all cash offer. We are prepared to start immediately. As we indicated upon announcing our bid,
- Statement by Fu Chengyu, Chairman and CEO of CNOOC Limited.
- Press release article from: PR Newswire Europe June 24, 2005 700+ words
BEIJING, June 24 /PRNewswire/ -- We are extremely pleased that Unocal has indicated today they will begin engaging in talks concerning our all cash offer. We are prepared to start immediately. As we indicated upon announcing our bid, we believe this offer brings superior value to Unocal
- Over the Great Wall; Chinese companies.(China is allowing more foreigners to...
- Magazine article from: The Economist (US) November 5, 2005 700+ words
...evidence that Beijing is willing to relinquish control over state companies. Fang Fang, a managing director at J.P. Morgan, the...expansion plans of even the most modern Chinese company. Fu Chengyu, head of CNOOC, an oil company, recently said he would...
- State companies must pay dividends out of consolidated profit.
- Newspaper article from: Russia & CIS Business and Financial Newswire June 1, 2006 700+ words
State companies must pay dividends out of consolidated...signed an order on May 29 requiring state companies to pay dividends to the state out...government press service reports. State companies must also use a set portion of net...
- STATE COMPANIES UNDER TWO DEPARTMENTS TO BE RESTRUCTURED
- Magazine article from: Indonesian Commercial Newsletter March 27, 1995 700+ words
STATE COMPANIES UNDER TWO DEPARTMENTS TO BE RESTRUCTURED. Several state companies under the Department of Industry and the Department...restructured into holding companies. The state companies that will be merged include PT Asean Aceh...
- State companies account for 56% of corporate Eurobonds.
- Newspaper article from: Russia & CIS Business and Financial Newswire December 1, 2005 700+ words
State companies account for 56% of corporate Eurobonds...corporate Eurobonds have been issued by state companies, Alexei Savatyugin, director of...everything to reduce foreign debt, but state companies, frequently 100% state owned...