Top Chinese offshore oil and gas producer CNOOC Ltd said on Wednesday it plans to produce up to 2 percent more of the fuels in 2013 as it earmarks $12 billion-$14 billion as capital expenditure for exploration, development and production. The state-run company aims to produce 338 million-348 million barrels of oil equivalent (boe) this year, compared with estimated output of 341-343 million boe in 2012, it said in a statement. The 2012 output estimates were roughly in line with the company's target of 335-345 million boe.CNOOC's output has been hurt by the suspension of its Penglai 19-3 oilfield in eastern China's Bohai bay since September 2011, when it was hit by an oil spill. CNOOC is still seeking regulatory approvals to restart production.U.S. oil firm ConocoPhillips owns a 49 percent stake in the 168,000 barrel-per-day oilfield and acts as operator, while CNOOC Ltd has a 51 percent stake.Shares of CNOOC, which is acquiring Canadian energy company Nexen Inc for $15.1 billion in China's largest ever overseas takeover, ended up 1.9 percent on Wednesday ahead of the announcement.
CNOOC Limited is an investment holding company. The Company, along with its subsidiaries, is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company. Shares of CEO remained unchanged at $209.07. In the past year, the shares have traded as low as $171.58 and as high as $234.00. On average, 80466 shares of CEO exchange hands on a given day and today's volume is recorded at 0.
ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis. Shares of COP remained unchanged at $61.66. In the past year, the shares have traded as low as $50.62 and as high as $78.29. On average, 5875620 shares of COP exchange hands on a given day and today's volume is recorded at 0.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY remained unchanged at $26.89. In the past year, the shares have traded as low as $14.63 and as high as $27.06. On average, 9477340 shares of NXY exchange hands on a given day and today's volume is recorded at 0.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY fell by 0.15% or $-0.04/share to $26.94. In the past year, the shares have traded as low as $15.18 and as high as $27.25. On average, 1145770 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 855820.
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