Media Focus on Multinational Corporations[2022.01.17]






CNOOC: Offshore to drive growth of oil and gas

Growth in the oil and gas sector will come mostly from offshore in China, which is expected to become an important energy growth driver for the years to come, said a report released on Friday by China National Offshore Oil Corp.

The company said its offshore crude increment last year accounted for more than 80 percent of the country's total growth volume, a record high, while the exploitation of offshore natural gas resources is steadily advancing toward ultra-deep waters.

China's estimated offshore crude production in 2021 is expected to reach 54.64 million tons, up 5.8 percent year-on-year, while natural gas output is estimated to reach 19.6 billion cubic meters, up 5.4 percent compared with the same period of the preceding year, the China Offshore Energy Report drafted by the CNOOC Energy Economics Institute said.

The institute forecast the country's offshore oil and gas output will continue increasing this year. Crude output will rise 5.4 percent to 57.6 million tons, accounting for around 80 percent of the county's total crude increment. Natural gas production will exceed 20 billion cubic meters, up 6.7 percent year-on-year and making up around 12 percent of the country's gas increment.


Canon to close production lines in Zhuhai

Japanese tech giant Canon Inc said on Friday it plans to close some of its production lines in Zhuhai, Guangdong province, which mainly produce digital cameras.

An announcement with the official seal of Canon Zhuhai Co Ltd recently circulated on the internet, saying that it had decided to reduce the company's production due to the sharp decline in the global camera market in recent years along with the raging COVID-19 pandemic.

Canon has a total of 15 companies in China, with businesses covering printers, mechanical equipment, software, semiconductor devices and healthcare technology, according to Canon China's official website.

The Zhuhai plant is Canon's only production base for digital cameras, sensors and lenses on the Chinese mainland.


Huawei ranks No 5 in US patents in 2021: Bloomberg

BEIJING -- Huawei took out 2,770 US patents last year, ranking fifth on the list of companies getting the most US patents, Bloomberg reported Tuesday.

Citing a new study by Fairview Research's IFI Claims Patent Services, the report said, 'that shows Chinese firms are increasingly responsible for a greater share of the world's innovation.'

The analytics firm said when it comes to global patent ownership, Chinese companies also dominate.

Although Huawei's networking equipment is excluded from the US market, and the Biden administration has banned it from obtaining some components for its phones, the Shenzhen-based company has succeeded in obtaining more patents, said the report.


JD steps up overseas expansion with ochama robotic retail shops

Chinese e-commerce giant JD announced it has opened two robotic shops named 'ochama' in Leiden and Rotterdam in the Netherlands as part of its efforts to further expand its presence overseas and strengthen supply chain infrastructure.

It is the first time that JD has opened brick-and-mortar stores in Europe, featuring a new shopping model that merges online ordering and pickup shops where parcels are fully arranged by just robots. JD said it plans to open two more such stores in Amsterdam and Utrecht in the near future.


JD to open offline smart home stores in 300 cities in 2022

Chinese e-commerce giant JD said it plans to open more offline smart home stores named Jingyuzuo in about 300 cities in 2022, as the company will bank on the fast-growing smart home equipment market.

The internet of things platform owned by JD Cloud can access more than 4,000 types of smart home products and 200 million units of devices serving 26 million families.

JD Cloud, the cloud computing unit of JD, has inked a partnership with smart home service platform Easyhome, a Beijing-based furniture retailer.

The partners will cooperate in building new stores, integrating their supply chains and strengthening digital capacity construction to drive the digitalization push of smart home stores.

JD Cloud will fully open its supply chain and technical service capacities to help the smart home industry to improve operational efficiency and provide consumers with a smoother shopping experience.

BGI Genomics

BGI Genomics showcases high-throughput COVID testing air lab at Dubai World Expo's China Pavilion

From January 11 to 13, a model of BGI Genomics' Huo-Yan Air Laboratory, was showcased at the China Pavilion of the Dubai World Expo.

With the continuing spread of COVID-19 worldwide, the Huo-Yan Air Laboratory, which can be set up anywhere in a very short time, was created by BGI Genomics for dealing with the pandemic. The smart Air Lab can be easily stored, transported, and seamlessly integrated with existing facilities when set up. Furthermore, the design can be scaled to a national level, meeting the current challenge of a worldwide lack of COVID-19 detection facilities.

Saudi Aramco

Saudi Aramco vows support for low-carbon transitioning

Saudi Aramco, a top energy supplier, vowed to further support the country's low-carbon transition on Tuesday with the establishment of the Nonmetallic Excellence and Innovation Center for Building Materials in Beijing.

Jointly set up by the company and the China Building Materials Academy, an institute under China National Building Material Groupthe world's largest building materials manufacturerthe center aims to accelerate the application of nonmetallic materials for the construction and building industry, deploy future innovative technologies and create more sustainable solutions, the company said.

In comparison with conventional building materials, nonmetallic materials, which include petroleum-based polymers, are more durable and less expensive. They will play a key role in promoting low-carbon infrastructure in China, Saudi Aramco said.


Foxconn maintains normal operations in Henan

Foxconn Technology Group, the world's largest contract electronics manufacturer and a key supplier of Apple Inc, said its plants in Zhengzhou, capital of Central China's Henan province, are currently in normal operation, despite more COVID-19 cases in the city.

The company said in a reply to China Daily that the resurgence of COVID-19 pandemic in Zhengzhou has no impact on its production capacities.


Lukoil to use Honeywell UOP technology to improve gasoline and propylene yield

Honeywell announced that Lukoil -Permnefteorgsintez, a subsidiary of Lukoil, will use a range of Honeywell UOP process technologies at its refinery to convert low value vacuum gasoil into high value products such as gasoline and propylene, said Hydrocarbonprocessing.

Phase one of the project includes the installation of a new UOP vacuum distillation unit and a UOP FCC unit that is tailored to increase production of propylene at the refinery while improving gasoline yield. A UOP Merox unit will also be installed that will treat the liquefied petroleum gas (LPG) streams and reduce the level of mercaptans in the LPG and UOP propylene recovery unit to produce propylene with certain quality requirements for its further use.


Wood expands its presence in the Middle East

Wood, the global consulting and engineering company, marks a year of strategic growth in the Middle East region following a suite of contract awards and strategic framework renewals across its Consulting, Projects and Operations business units, accumulating in US$580 million of secured backlog in 2021.

As operators focus on economic recovery from the pandemic and ensuring continued energy supply, Wood is delivering solutions to optimise energy production, reduce carbon impact and accelerate the energy transition across the region, strengthening its position as a trusted partner to enable reliable and sustainable energy production in the face of rising demand.

Significant awards in 2021 include a multi-million dollar contract with Saudi Aramco to deliver engineering and project management services for the Safaniyah and Manifa oilfields in the Kingdom of Saudi Arabia, an agreement from ADNOC to perform Pre Front-End Engineering and Design (FEED) work for a world-scale blue ammonia production facility in Ruwais, Abu Dhabi, as well as front end engineering, detailed engineering, procurement and EPC contract management solutions for a long-term client in Iraq.

Exxon Mobil

Exxon moving to sell off U.S. shale gas properties stretching across 27,000 acres

Exxon Mobil on Tuesday launched the sale of shale gas properties stretching across 27,000 acres in the Appalachian basin of Ohio, the company confirmed, part of an ongoing divestiture of U.S. assets.

The top U.S. oil producer is marketing 61 wells that last year produced around 81 million cubic feet per day equivalent (mmcfd) of natural gas, according to a marketing document viewed by Reuters. The sale includes another 274 wells operated by other companies.

A sale could value the assets at around $200 million based on current natural gas prices and existing production from the wells, a person familiar with the matter said.


Petronas and Shell ink CCS deal

Petronas has joined forced with Sarawak Shell Behad (Shell) to explore carbon capture and storage (CCS) collaboration opportunities in Malaysia and the wider southeast Asia region.

Formalised on Tuesday (Jan 11th) with a joint study and collaboration agreement (JSCA), the effort will see the duo deliver an integrated CCS area development plan to deliver on decarbonisation ambitions.

Once complete, the study will help assess potential areas for collaboration.


British Petroleum awarded offshore exploration block in Eastern Mediterranean

British Petroleum (BP) has been awarded by Egypt an offshore exploration block in the Eastern Mediterranean following its successful participation with partner Eni in the Egypt International Bid Round for Petroleum Exploration and Exploitationthat was organised by the Egyptian Natural Gas Holding Company (EGAS) in 2021.

The EGY-MED-E5 block, in which each of BP and Eni hold a 50% interest, is located in the Mediterranean Sea, approximately 130 km northeast of Port Said. The block covers an area of approximately 3,200 sqm, with water depths ranging between 500 and 1,200 metres. It is located within the Deep Levant Basin, which offers the potential for material gas discoveries that could be developed through existing infrastructure.

Saudi Aramco

Saudi Aramco Is Fighting To Regain A Key European Market

In a move to regain some of its former glory in the North West European crude oil and products market, Saudi Aramco Trading Company (ATC) has clinched a major 110,000 bpd supply deal with international independent private equity group Klesch Group. According to statements made by ATC, the deal entails the supply of 110,000 bpd of crude to the Danish Kalundborg Refinery, following the signing of an agreement with Klesch Group. The deal entails not only Arabian crude placement but also third-party crude and condensate, with a provision of refined products offtake. The move should be seen as a new adventure for ATC, and its mother company Saudi Aramco, as it attempts to re-enter or strengthen its former position in the North West European market.