01:03:28 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



CNOOC Ltd
Symbol CNU
Shares Issued 9,346,564
Close 2014-12-19 C$ 157.84
Market Cap C$ 1,475,261,662
Recent Sedar Documents

Globe/wire say CNOOC's Nexen shuts Yemen facilities

2014-12-22 04:59 ET - In the News

The Globe and Mail reports in its Monday, Dec. 22, edition that CNOOC's Nexen unit said Sunday it is shutting operations at an oil field and processing facility in Yemen due to a security threat. A Reuters dispatch to The Globe reports that a Yemeni oil ministry official expressed surprise at the reason Nexen gave for suspending operations, saying the security threat has not increased recently and may even have decreased. The official suggested the recent drop in global oil prices may be a factor. Yemen has been in turmoil since 2011 mass protests forced veteran president Ali Abdullah Saleh to step down, and tensions have increased since Shia Muslim Houthi fighters captured the capital Sanaa in September, adding to a major threat from al-Qaeda, which operates in the east and south of Yemen. Nexen spokesman Diane Kossman says: "As a prudent operator, we are temporarily shutting down Block 51 PSA field facilities to ensure the safety of our people. The shutdown will be progressed in a timely manner. Our personnel will vacate and production will cease." Ms. Kossman says Nexen will monitor the situation and restart operations when it is safe for workers to return.

© 2024 Canjex Publishing Ltd. All rights reserved.