CNOOC dis­cov­ers rich off­shore gas re­serves

China Daily (Canada) - - FRONT PAGE -

Oil gi­ant Chi­naNa­tional Off­shore Oil Corp has made a deep­wa­ter gas field dis­cov­ery in the north­ern part of the South China Sea, the company said on Tues­day. The Sta­te­owned off­shore oil and gas company found a mid-sized vol­ume of gas in the Ling­shui 25-1 well, it said on its web­site. The well should pro­duce 35.6 mil­lion cu­bic feet of gas per day and is in wa­ter 980 me­ters deep. has be­come top seller in the Chi­nese auto mar­ket for 10 con­sec­u­tive years. The company, which makes cars jointly with Gen­er­alMo­tors Co and Volk­swa­gen AG, pro­duced 5,610,558 ve­hi­cles cu­mu­la­tively last year, an 8.98 per­cent year-on-year growth. Its joint ven­ture Shang­hai Gen­er­alMo­tors sold 1,760,000 units last year, up 11.74 per­cent year-on-year, while Shang­hai Volk­swa­gen posted an­nual sales growth of 13.11 per­cent with 1,725,000 ve­hi­cles. China can be at­trib­uted to grow­ing de­mand from Chi­nese cus­tomers for lux­ury cars and Bent­ley’s suc­cess in mar­ket­ing its lux­ury im­age.

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