China National Offshore Oil Corp. Likely To Miss 2011 Targets


A Sanford C. Bernstein and Co. report has stated that China National Offshore Oil Corp., China’s top offshore oil producer, is likely to miss 2011 output targets.

The report notes that last month Beijing ordered all production suspended at the Penglai 19-3 project, China's largest offshore oilfield, off eastern China’s coast in the Yellow Sea’s Bohai Bay. China National Offshore Oil Corp. currently holds 51 percent of the Penglai 19-3 development.

Beijing’s decision came after it ruled

Read more...

More from Commodities

Watch This If You're Wondering How Much Gold to Have and When to Sell

Watch This If You're Wondering How Much Gold to Have and When to Sell

How Can Gold Continue This Upward Momentum?

How Can Gold Continue This Upward Momentum?

Week Ahead: Investors Keep Economy in Check as Trade, North Korea Talks in Limbo

Week Ahead: Investors Keep Economy in Check as Trade, North Korea Talks in Limbo

Oil Rally Steadies Even as Potential Supply Disruptions Persist

Oil Rally Steadies Even as Potential Supply Disruptions Persist

The Outlook for Gold Prices Looks Awful Even With 10-Year Yields Above 3%

The Outlook for Gold Prices Looks Awful Even With 10-Year Yields Above 3%