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FILE PHOTO: China International Fair for Trade in Services (CIFTIS) in Beijing
China's CNOOC makes 100 million ton oilfield discovery in South China Sea
Reuters: Chinese state-owned oil and gas giant CNOOC Ltd has discovered a new reserve in the South China Sea containing over 100 million tons of oil equivalent proved in-place, the company said in a statement on Friday.
The reserve is located at CNOOC's deepwater Kaiping South oilfield in the Pearl River Delta near Guangdong province, and contains light crude, the statement said.
CNOOC has invested heavily in developing China's offshore oil and gas reserves as part of a broader push to offset declining output from aging onshore fields.
The company lifted its 2024 production target by about 8% to a record 700 million to 720 million barrels of oil equivalent. Domestic production, much of this offshore reserves in eastern China's Bohai Sea and the South China Sea.
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- In World
- 8 March 2024 12:37
In World
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Xiaomi CEO Lei Jun recently announced on Weibo the upcoming operational status of a new generation smartphone production factory in Changping, Beijing, reports gizmochina.com. The announcement, accompanied by a video introduction, highlights the advanced capabilities of this “dark factory,” designed to function 24 hours a day without human intervention.
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TEHRAN, Iran (AP) — Iran’s newly elected president said his government will create "balance in relations with all countries” in line with national interests and the prerequisites for peace but stressed to the United States that his country “will not respond to pressure.”
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Taiwan will withdraw the military honour guards at the memorial hall for former leader Chiang Kai-shek as part of ongoing efforts to end the "veneration of authoritarianism", the culture ministry said on Friday.
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