15:35:40 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



CNOOC Ltd
Symbol CNU
Shares Issued 10,521,289
Close 2015-09-02 C$ 151.99
Market Cap C$ 1,599,130,715
Recent Sedar Documents

FP says CNOOC, rivals feel pinch of tougher regulations

2015-09-04 09:30 ET - In the News

Also In the News (C-ENB) Enbridge Inc

The Financial Post reports in its Friday edition that by ordering the shutdown of almost 100 Nexen Energy ULC Alberta pipelines last week, the Alberta Energy Regulator forced the CNOOC subsidiary to wind down operations of the Long Lake oil sands project. The Post's Claudia Cattaneo writes that it is uncertain how long the operation will be offline. Long Lake was producing about 50,000 barrels a day. At current oil prices, Nexen stands to lose about $17.5-million in revenue every week. Two weeks ago, the National Energy Board delayed final arguments on the proposed Trans Mountain pipeline expansion after discovering that a consultant it hired had provided evidence nearly two years ago in support of the Kinder Morgan Canada project. Kinder had to hire a new consulting firm, Muse Stancil, to replace the evidence, resulting in delay. Meanwhile, Enbridge's Line 9B reversal and Line 9 expansion to move Western Canadian crude to Ontario and Quebec that were supposed to be operational late last year are still trying to meet NEB requirements. Ms. Cattaneo says Canada's energy regulators are getting tougher, resulting in additional costs for the industry as well as uncertainty regarding further regulation.

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