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Express News | Russia's Arctic LNG 2 Project Cuts Natural Gas Extraction in May by Almost Three Quarters From April, Source Says
Oil Slips on Chinese Demand Concerns Despite U.S. Rate-Cut Optimism
0756 GMT - Oil prices are edging lower on concerns over China's demand outlook despite dovish comments from Fed Chair Jerome Powell ramping up bets on a September rate cut. Brent crude is down 0.7%
CNOOC (00883) rose 1.11% against the market in the exploration area of the Bohai Zhongshen boundary with significant breakthroughs.
Jingu Finance News | CNOOC (00883) rose against the market. As of press time, it rose 1.11% to HKD 22.75, with a turnover of HKD 66.168 million. Yesterday, the company announced a major breakthrough in the exploration area of the Bohai Mid-Shelf Submarine. Longkou 7-1 oil and gas field is located in the eastern waters of the Bohai Sea, with an average water depth of about 26 meters. The discovery well LK7-1-1 drilled a total of about 76 meters of oil and gas layers, with a total drilling depth of about 4400 meters. After testing, the well produces nearly one million cubic meters of natural gas and about 210 cubic meters of crude oil per day, creating the highest record of natural gas production capacity test in Bohai Oilfield. According to UBS's report, the three major domestic
Crude Oil: Downside Pressures to Continue – TDS
Crude oil markets are also particularly vulnerable to a downtape, TD Securities senior commodity strategist Daniel Ghali notes.
Express News | CNOOC - Achieved Exploration Breakthrough in Mesozoic Buried Hill Offshore Bohai Bay
In the past four days, southbound funds have been continuously selling CNOOC, with a total of 0.86 billion Hong Kong dollars in net sales.
As of today, southbound funds had a net purchase of 4.871 billion yuan in Hong Kong stocks. Among them, there was a net purchase of tracker fund of hong kong of 1.194 billion, Hang Seng H-Share Index ETF of 0.609 billion, CSOP Hang Seng Tech Index ETF of 0.256 billion, Industrial and Commercial Bank of China of 0.203 billion, China Mobile of 0.197 billion, China Shenhua Energy of 0.11 billion, and Meituan of 0.11 billion; and a net sell of China Hongqiao of 0.378 billion and CNOOC of 0.126 billion. According to statistics, southbound funds have been net selling CNOOC for 4 consecutive days with a total of 0.86175 billion Hong Kong dollars.
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