Gas for Transport

CNOOC profits decline on trucked LNG sales, CNPC eases losses

China National Offshore Oil Corp.’s profits from sales of trucked LNG from supply terminals fell in November, as a result of expensive imports of the fuel from Qatar.
By Tang Tian 11 January 2013 0 3576

China National Offshore Oil Corp.’s (CNOOC’s) profits from sales of trucked LNG from supply terminals fell in November, as a result of expensive imports of the fuel from Qatar.

CNOOC’s profits from trucked LNG at the Dapeng terminal fell by 2.29% month-on-month to RMB 1,877 ($302) per ton. Dapeng received 92,700 tons from Qatar in November, valued at $17.74 per million Btu (MMBtu), according to Li Lingxuan, an analyst with Zhuochuang Information in Shandong province.

The company’s losses at the Ningbo terminal deepened, from RMB 1,805/t in...