Chinese state-owned oil and gas exploration and production company CNOOC Limited has brought in Zhang Chuanjiang as board chairman, non-executive director, nomination committee chairman and Chairman of the Strategy and Sustainability Committee effective July 8. Zhang previously served as Deputy General Manager and General Manager of the Ordos Coal-to-Liquids Branch of China Shenhua Coal to Liquid and Chemical Co. Ltd., Chairman of China Shenhua Coal to Liquid and Chemical Co. Ltd., and the Director of the Chemical Industry Operation and Management Center of China Energy Investment Corp. Co. Ltd.  Chuanjiang also served as Chairman of CHN Energy Ningxia Coal Industry Co. Ltd. from March to July 2020. From July 2020 to April 2024, he served as Vice President of China Datang Corp. Ltd., and from April 2024 to June 2025, as Director and President of the same company. Since June 2025, he has been Chairman of China National Offshore Oil Corp., Chairman and President of Overseas Oil & Gas Corp. Ltd. and Chairman of CNOOC (BVI) Ltd. Born in 1968, Chuanjiang holds a Master’s in engineering. Earlier CNOOC Ltd. announced the establishment of a joint operating company in Kazakhstan with Joint Stock Company National Company KazMunayGas (KMG). It was the result of a Contract for the Exploration and Production of Hydrocarbons in the Zhylyoi Subsoil Area with the Ministry of Energy of the Republic of Kazakhstan. The Zhylyoi Subsoil Area is partly in the Atyrau region and partly in the Kazakhstan sector of the Caspian Sea, covering around 958 square kilometers (370 square miles). The contract specifies a 9-year initial exploration phase. CNOOC Hong Kong Holding Ltd. and KMG each own a 50 percent interest. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone

Australia’s Woodside Energy Group Ltd. has signed a memorandum of understanding (MOU) with Hyundai Engineering and Hyundai Glovis covering LNG project development, engineering services and shipping logistics. “Woodside is pleased to be deepening our longstanding relationship with Hyundai through this agreement. We are confident the synergies and complementary strengths of our organizations will support the delivery of high-quality LNG solutions to meet growing global demand”, Mark Abbotsford, Woodside Executive Vice President and Chief Commercial Officer, said in a media release. Woodside said the parties will focus on advancing execution capability and extending their reach into priority LNG markets. “This agreement allows Hyundai Engineering to broaden our global LNG experience by working alongside a world-class LNG developer. We are confident in our ability to add value across the full engineering spectrum and deliver integrated solutions for Woodside projects”, Myoung-Kun Son, Hyundai Engineering Chief Operating Officer, said. Woodside’s success in LNG development, Hyundai Engineering’s broad experience in engineering, procurement, and construction, and Hyundai Glovis’s worldwide shipping capabilities together position the parties to effectively meet increasing LNG demand in Asia-Pacific markets and some new regions, Woodside said. “We are proud to partner with Woodside to explore long-term maritime solutions that support reliable LNG supply. Our global shipping footprint and expertise make us well-positioned to contribute to this strategic collaboration”, Taewoo Kim, Hyundai Glovis Head of Logistics Business, said. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the Rigzone Energy Network. The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy. MORE FROM THIS AUTHOR

Tidewater Midstream and Infrastructure Ltd. said it has entered into a definitive agreement with Parallax Energy Operating Inc. for the sale of its Sylvan Lake gas plant and associated gas gathering infrastructure for total proceeds of approximately $4 million (CAD 5.5 million), subject to customary adjustments. The Sylvan Lake Gas Processing Facility is a non-core asset of Tidewater located in central Alberta, the company said in a news release. The transaction is expected to have an immaterial impact on Tidewater’s 2025 operating results, and the proceeds received therefrom are anticipated to be used to repay amounts outstanding on the company’s senior credit facility, Tidewater said. The transaction is expected to close in the third quarter, subject to customary closing conditions and certain regulatory approvals, including the receipt of approval from the Alberta Energy Regulator, according to the release. “The disposition of the Sylvan Lake Gas Processing Facility represents yet another milestone for Tidewater as we look to optimize our asset portfolio and improve financial flexibility. In the first half of 2025, Tidewater announced cumulative non-core asset sales of approximately CAD 30 million, at what we believe to be very healthy and attractive valuation ranges. We believe these sales highlight the strength of Tidewater’s asset base, and look forward to further advancing the remainder of our non-core asset sales program,” Tidewater CEO Jeremy Baines said. First Quarter Net Loss Reported In May, Tidewater reported a consolidated net loss attributable to shareholders of CAD 31.8 million for the first quarter, compared to $11.3 million a year ago. The increase in net loss was “due to lower refined product sales and lower product margins offset in part by lower depreciation, interest expense, favorable changes in the fair value of derivative contracts, and higher income from equity investments,” the company said in its most

An industry-commissioned assessment found the importation of natural gas into New Zealand is technically viable, but one of the companies that ordered the study said Thursday building liquefied natural gas (LNG) infrastructure in the country appears to be “more challenging than anticipated”. The study, commissioned following a rapid fall in domestic gas that prompted a reversal on climate policy, looked at conventional-scale LNG import infrastructure and smaller-scale solutions. The “New Zealand LNG Import Feasibility Assessment” was conducted by the United Kingdom-based Gas Strategies Group Ltd. with support from New Zealand-based Wood Beca Ltd. for about 10 weeks from mid-September 2024. For LNG importation through conventional-size vessels, capital cost estimates to build the needed infrastructure range from NZD 189 million ($113.75 million) to NZD 1 billion. The cost depends on port modifications at a given location, pipeline upgrades and onshore regasification installations. The range is “a significant investment given the uncertainty around how often LNG imports would be needed”, Clarus, one of the companies that commissioned the study, said in a statement online. “The global LNG trade has standardized around large vessels (carrying around 170,000-180,000m3, or 4.5 PJ of gas), with much of the storage and regasification equipment located on permanently moored ships (known as Floating Storage and Regasification Units or FSRUs)”, Clarus, formerly Firstgas Group, said.  The study identified six preferred sites across the North Island. “No single location in New Zealand has the existing combination of sufficient water depth, benign metocean condition and existing gas pipeline capacity to meet demand scenarios”, the first of two findings reports said. “Therefore, all locations will require financial investment to address one or more of these issues. “LNG imports are unlikely to be achieved in less than four years unless the existing permitting and consenting process is fast-tracked and / or some financial risk

Senior officials from three of OPEC’s core producer nations – Saudi Arabia, the United Arab Emirates, and Kuwait – lined up on Wednesday to say that the super-sized addition of supply by the producer club at the weekend was needed by the global market. Oil prices eked out gains this week, a sign that the market has largely shrugged off the larger-than-expected output hike announced on Saturday by the Organization of the Petroleum Exporting Countries and allies. Despite the current tightness, forecasters are pointing out that supply growth is at risk of outpacing demand later in the year. “You can see that even with the increase in several months, we haven’t seen a major buildup in the inventories, which means the market needed those barrels,” Suhail Al Mazrouei, the United Arab Emirates energy minister said on the sidelines of a conference that the group is holding in Vienna. His comments were echoed by officials at the state oil companies of Saudi Arabia and Kuwait. Signs of a tight market include crude oil stockpiles at the key US storage hub of Cushing, Oklahoma that are at their lowest seasonally since 2014, as well as a collapse in America’s diesel inventories. Timespreads point to tight supply-and-demand dynamics in the near term. Bloomberg News hasn’t received accreditation to cover the OPEC seminar, despite multiple requests. No explanation has been given.  Healthy Demand Saudi Aramco, which hiked its key oil prices for customers in Asia a day after the weekend meeting, sees “healthy global oil demand,” despite trade challenges, tariffs and their impact on the global economy, President and CEO Amin Nasser said at the OPEC Seminar in Vienna, according to a video posted on the X platform. In April, OPEC+ announced – to the surprise of the market – the addition of 411,000 barrels a day of production

BP PLC said Wednesday it had signed a deal to divest its convenience, mobility and BP Pulse businesses in the Netherlands to local fuels distributor Catom BV. “The transaction includes around 300 bp-owned or branded retail sites – some with on-site EV charging infrastructure – as well as 15 operational bp pulse EV charging hubs, eight under development and the associated Dutch fleet business”, a joint statement said. BP Pulse is BP’s multinational electric vehicle charging business. The parties did not disclose the price of the transaction, expected to be completed by year-end subject to regulatory approvals. The assets will grow Catom’s retail network to over 400 sites across the Netherlands. Catom sells conventional and renewable fuels and lubricants under the OK brand. “With this acquisition, we’re on our way to becoming the number one brand in our industry in the Netherlands”, commented Catom chief executive Jan Willem Westerhuis. “Catom was ultimately selected as the successful bidder as they presented the best overall offer, including future plans for the business and protection of terms and conditions of employees”, the statement said. Emma Delaney, BP executive vice president for customers and products, said, “We have built a high-quality retail and convenience business in the Netherlands but as we look to focus our downstream as part of a reset bp, we believe a new owner is best placed to take our Dutch business forward”. BP expects to sell $3-4 billion worth of assets this year, including $1.5 billion signed or completed in the first quarter. “Further progress on divestment proceeds will be provided as part of 2Q25 results”, Wednesday’s announcement said. Under a “reset” plan announced February, which involves scaling down renewables investment and cutting costs, BP targets $20 billion in divestment proceeds by 2027, including from solar developer Lightsource BP Renewable Energy Investments