Chinese Nocs and World Energy Markets: Cnpc, Sinopec and Cnooc
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2021 Annual General Meeting and Proxy Statement 2020 Annual Report
2020 Annual Report and Proxyand Statement 2021 Annual General Meeting Meeting General Annual 2021 Transocean Ltd. • 2021 ANNUAL GENERAL MEETING AND PROXY STATEMENT • 2020 ANNUAL REPORT CONTENTS LETTER TO SHAREHOLDERS NOTICE OF 2021 ANNUAL GENERAL MEETING AND PROXY STATEMENT COMPENSATION REPORT 2020 ANNUAL REPORT TO SHAREHOLDERS ABOUT TRANSOCEAN LTD. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services, and operates one of the most versatile offshore drilling fleets in the world. Transocean owns or has partial ownership interests in, and operates a fleet of 37 mobile offshore drilling units consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships. Our shares are traded on the New York Stock Exchange under the symbol RIG. OUR GLOBAL MARKET PRESENCE Ultra-Deepwater 27 Harsh Environment 10 The symbols in the map above represent the company’s global market presence as of the February 12, 2021 Fleet Status Report. ABOUT THE COVER The front cover features two of our crewmembers onboard the Deepwater Conqueror in the Gulf of Mexico and was taken prior to the COVID-19 pandemic. During the pandemic, our priorities remain keeping our employees, customers, contractors and their families healthy and safe, and delivering incident-free operations to our customers worldwide. FORWARD-LOOKING STATEMENTS Any statements included in this Proxy Statement and 2020 Annual Report that are not historical facts, including, without limitation, statements regarding future market trends and results of operations are forward-looking statements within the meaning of applicable securities law. -
Case M.9837 — BP/Sinopec Fuel Oil Sales/BP Sinopec Marine Fuels) Candidate Case for Simplified Procedure
C 6/16 EN Offi cial Jour nal of the European Union 8.1.2021 Prior notification of a concentration (Case M.9837 — BP/Sinopec Fuel Oil Sales/BP Sinopec Marine Fuels) Candidate case for simplified procedure (Text with EEA relevance) (2021/C 6/13) 1. On 22 December 2020, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1). This notification concerns the following undertakings: — BP Plc. (United Kingdom), — Sinopec Fuel Oil Sales Co. Ltd (People’s Republic of China), controlled by China Petrochemical Corporation (People’s Republic of China), — BP Sinopec Marine Fuels Pte. Ltd. BP Plc. and Sinopec Fuel Oil Sales Co. Ltd acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of BP Sinopec Marine Fuels Pte. Ltd. The concentration is accomplished by way of contract. 2. The business activities of the undertakings concerned are: — for BP Plc.: exploration, production and marketing of crude oil and natural gas; refining, marketing, supply and transportation of petroleum products; production and supply of petrochemicals and related products; and supply of alternative energy, — for Sinopec Fuel Oil Sales Co. Ltd: providing oil products and service to domestic and international trading vessels, — BP Sinopec Marine Fuels Pte. Ltd: wholesale and retail supply of bunker fuels in Europe, Asia and the Middle East. 3. On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice. -
Empirical Inference of Related Trading Between Two Securities: Detecting Pairs Trading, Merger Arbitrage, and Strategy Rules*
Empirical inference of related trading between two securities: Detecting pairs trading, merger arbitrage, and strategy rules* Keith Godfrey The University of Western Australia Working paper: 5 September 2013 The traditional approach to studying pairs trading is to simulate profitability using ex-post historical prices. I study the actual trades reported anonymously in security pairs and build statistical inferences of related trading. The approach is based on the time differences between trades. It can distinguish intrinsically related securities from pseudo-random sets, find stocks involved in merger arbitrage in massive sets of paired index constituents, and infer dominant trading rules of mean reversion algorithms. Empirical inference of related trading can enable further studies into pairs trading, strategy rules, merger arbitrage, and insider trading. Keywords: Inferred trading, empirical inference, pairs trading, merger arbitrage. JEL Classification Codes: G00, G10, C10, C40, C60 The availability of intraday trading or “tick” data with time resolution of a millisecond or finer is opening many avenues of research into financial markets. Analysis of two or more streams of tick data concurrently is becoming increasingly important in the study of multiple-security trading including index tracking, pairs trading, merger arbitrage, and market-neutral strategies. One of the greatest challenges in empirical trading research is the anonymity of reported trades. Securities exchanges report the dates, times, prices, and volumes traded, without identifying the traders. In studies of a single security, this introduces uncertainty of whether each market order that caused a trade was the buy or sell order, and there are documented approaches of inference such as Lee and Ready (1991). -
Master's Thesis
Faculty of Science and Technology MASTER’S THESIS Study Program / Specialization: Fall semester, 2012 Offshore Technology / Industrial Restricted access Economics Author: Sun, Gang (Signature author) Faculty Supervisor: Professor Jayantha P. Liyanage, PhD Title of Thesis: Choosing Appropriate Commercial Models for Overseas Business: A case study of a Chinese oil service provider towards Internationalization Credits (ECTS): 30 ETCS Key Words: Commercial Models; Internationalization; Pages: 48 Spin off; China, June 2014 Liability; Restructure; Benchmark. Acknowledgements I want to express my greatest gratitude to my supervisor Professor J.P Liyanage for his extraordinary patience and wisdom guiding me through this process. Writing the thesis was not easy, but rather challenging and time-consuming, with the help of his feedback I could find the interesting topics and look at my work more critically and improve it. I would like to thank Professor Tore Markeset, Professor O.T Gudmestad, and Mr. Frode Leidland for their kind instructions during my study in Norway. I am very thankful to Mr. Chen, Zongjiang, as the Director of PT COSL INDO, who has offered me a lot of newest updates relevant to the restructuring of PT COSL INDO. Besides, Mr. Wang, Tongyou and Mr. Wang, Jin as my Colleagues, and Mr. Peng, Guicang as my ex-coworker, have given me a hand on how bridging the gap between me and the required academic level. I would also like to take the chance to express my appreciation to Mr. Li, Yong, Mr. Zi, Silong, Mr. Li, Zhi and Mr. Zhang, Xingyun who on behalf of the company COSL to sponsor my graduate study in University of Stavanger, without their good faith and deeds for the youth of their company, I could not finish the study in good wellbeing. -
National Oil Companies: Business Models, Challenges, and Emerging Trends
Corporate Ownership & Control / Volume 11, Issue 1, 2013, Continued - 8 NATIONAL OIL COMPANIES: BUSINESS MODELS, CHALLENGES, AND EMERGING TRENDS Saud M. Al-Fattah* Abstract This paper provides an assessment and a review of the national oil companies' (NOCs) business models, challenges and opportunities, their strategies and emerging trends. The role of the national oil company (NOC) continues to evolve as the global energy landscape changes to reflect variations in demand, discovery of new ultra-deep water oil deposits, and national and geopolitical developments. NOCs, traditionally viewed as the custodians of their country's natural resources, have generally owned and managed the complete national oil and gas supply chain from upstream to downstream activities. In recent years, NOCs have emerged not only as joint venture partners globally with the major oil companies, but increasingly as competitors to the International Oil Companies (IOCs). Many NOCs are now more active in mergers and acquisitions (M&A), thereby increasing the number of NOCs seeking international upstream and downstream acquisition and asset targets. Keywords: National Oil Companies, Petroleum, Business and Operating Models * Saudi Aramco, and King Abdullah Petroleum Studies and Research Center (KAPSARC) E-mail: [email protected] Introduction historically have mainly operated in their home countries, although the evolving trend is that they are National oil companies (NOCs) are defined as those going international. Examples of NOCs include Saudi oil companies that have significant shares owned by Aramco (the largest integrated oil and gas company in their parent government, and whose missions are to the world), Kuwait Petroleum Corporation (KPC), work toward the interest of their country. -
Wei Jingsheng and the Democracy Movement in Post-Mao China Merle David Kellerhals Jr
Old Dominion University ODU Digital Commons Institute for the Humanities Theses Institute for the Humanities Summer 1998 Wei Jingsheng and the Democracy Movement in Post-Mao China Merle David Kellerhals Jr. Old Dominion University Follow this and additional works at: https://digitalcommons.odu.edu/humanities_etds Part of the Asian History Commons, and the Political History Commons Recommended Citation Kellerhals, Merle D.. "Wei Jingsheng and the Democracy Movement in Post-Mao China" (1998). Master of Arts (MA), thesis, Humanities, Old Dominion University, DOI: 10.25777/7pt4-vv58 https://digitalcommons.odu.edu/humanities_etds/13 This Thesis is brought to you for free and open access by the Institute for the Humanities at ODU Digital Commons. It has been accepted for inclusion in Institute for the Humanities Theses by an authorized administrator of ODU Digital Commons. For more information, please contact [email protected]. WEI JINGSHENG AND THE DEMOCRACY MOVEMENT IN POST-MAO CHINA by Merle David Kellerhals, Jr B A. May 1995, College of Charleston A Thesis submitted to the Faculty of Old Dominion University in Partial Fulfillment of the Requirement for the Degree of MASTER OF ARTS HUMANITIES OLD DOMINION UNIVERSITY August 1998 Approved by: Jin Qiu (Director) hen Jie (Member) David Putney (Member) Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. UMI Number: 1391982 Copyright 1999 by Kellerhals/ Merle David, Jr. All rights reserved. UMI Microform 1391982 Copyright 1998, by UMI Company. All rights reserved. This microform edition is protected against unauthorized copying under Title 17, United States Code. UMI 300 North Zeeb Road Ann Arbor, MI 48103 Reproduced with permission of the copyright owner. -
Chinese Foreign Relation Strategies Under Mao and Deng: a Systematic and Comparative Analysis
Chinese Foreign Relation Strategies Under Mao and Deng: A Systematic and Comparative Analysis JOSEPH YU-SHEK CHENG AND FRANKLIN WANKUN ZHANG During the past half-century, Chinas foreign relations strategies evolved in an uneven way. Undeniably, both Mao Zedong and Deng Xiaoping made significant impact on the evolution of Chinas foreign relations strategy and established their own models in their respective eras in effect dividing the history of Chinese foreign policy into two. In the shadow of the Cold War, Chinese foreign relations shifted between the United States and the Soviet Union as the future superpower struggled to safeguard national security, guarantee sovereignty and territorial integrity and enhance its international status under Mao. In the last two decades Chinese foreign relations strategies were less geared towards survival and security as Deng presided over the pursuit of the Four Modernizations and the establishment of a new international political and economic order in a framework of peace and non-alliance. As its impact on the shaping of world affairs grows, China's foreign relations strategies will continue to evolve in the next century when it becomes truly capable of an "overthrow of the planetary balance". The 20th century has witnessed Chinas rise from a weak, economically backward country to an important actor in the international system. From the founding of the Peoples Republic of China (PRC). In 1949, Mao Zedong attempted to break the bipolar system and make China an independent and important strategic power. The reform and opening to the outside world policy program, also known as China's second revolution,1 initiated by Deng Xiaoping in late 1978, laid the foundation for Chinas spectacular economic growth and enabled it to become an effective actor in the international system. -
The Spring and Autumn Period & the Warring States Period
http://www.purpleculture.net CHINESE MUSIC Pentatonic scale friend Zhong Ziqi by Playing “Sanfen Sunyi” method It is the collective name of This was one of the ancient five musical scales: do, re, mi, the Qin have their roots in this Chinese Lü generation sol and la. All the traditional methods. Guan Zhong in the Chinese scale forms included period, which fully reflects the Spring and Autumn Period the said five scales. Various improved musical instrument invented the Sanfen Sunyi modes might be formed Method that was used to based on each tone that is playing and composing skills figure out the length of Lü considered the principal tone for the pentatonic scale. The in a sequence of music tones and the enhanced music same or similar Lü generation consisting of the pentatonic methods also appeared in scale. According to the scale appreciation skills as well. As for ancient Greek and Arabic names of the principal tones, countries. Based on length modes could fall into different playing the ancient qin, ancient of the vibrating bodies, categories, such as do-mode, qin players also attributed the Sanfen Sunyi method re-mode, mi-mode, sol-mode included two aspects: “sanfen and la-mode. superb qin performance to true sunyi” and “sanfen yiyi.” Cutting one-third from a and deep feelings. According certain chord meant “sanfen sunyi,” which could result in to historical records, the singing of famous musician the upper fifth of the chord Qin Qing in the Zhou Dynasty could “shock the trees tone; And increasing the chord by one-third meant and stop clouds from moving,” and the singing of the “sanfen yiyi,” which generated the lower quarter of the folk singer Han E could “linger in the mind for a long chord tone. -
Deng Xiaoping in the Making of Modern China
Teaching Asia’s Giants: China Crossing the River by Feeling the Stones Deng Xiaoping in the Making of Modern China Poster of Deng Xiaoping, By Bernard Z. Keo founder of the special economic zone in China in central Shenzhen, China. he 9th of September 1976: The story of Source: The World of Chinese Deng Xiaoping’s ascendancy to para- website at https://tinyurl.com/ yyqv6opv. mount leader starts, like many great sto- Tries, with a death. Nothing quite so dramatic as a murder or an assassination, just the quiet and unassuming death of Mao Zedong, the founding father of the People’s Republic of China (PRC). In the wake of his passing, factions in the Chinese Communist Party (CCP) competed to establish who would rule after the Great Helmsman. Pow- er, after all, abhors a vacuum. In the first corner was Hua Guofeng, an unassuming functionary who had skyrocketed to power under the late chairman’s patronage. In the second corner, the Gang of Four, consisting of Mao’s widow, Jiang September 21, 1977. The Qing, and her entourage of radical, leftist, Shanghai-based CCP officials. In the final corner, Deng funeral of Mao Zedong, Beijing, China. Source: © Xiaoping, the great survivor who had experi- Keystone Press/Alamy Stock enced three purges and returned from the wil- Photo. derness each time.1 Within a month of Mao’s death, the Gang of Four had been imprisoned, setting up a showdown between Hua and Deng. While Hua advocated the policy of the “Two Whatev- ers”—that the party should “resolutely uphold whatever policy decisions Chairman Mao made and unswervingly follow whatever instructions Chairman Mao gave”—Deng advocated “seek- ing truth from facts.”2 At a time when China In 1978, some Beijing citizens was reexamining Mao’s legacy, Deng’s approach posted a large-character resonated more strongly with the party than Hua’s rigid dedication to Mao. -
Sinochem International 2015 Corporate Social Responsibility Report
Sinochem International 2015 Corporate Social Responsibility Report Sinochem International Plaza, NO.233 North Changqing Rd., Pudong New Area, Shanghai 200126, P.R.China Tel: 86-21-31768000 Fax: 86-21-31769199 www.sinochemintl.com This report is printed on the recycled paper. ABOUT THIS REPORT This is the fifth Sustainable Development Report of Sinochem International Table of Contents Corporation. The previous four reports were issued in 2012, 2013 ,2014 and 2015. Sinochem International Corporation also published Corporate Social Responsibility Reports for 12 years in a row from 2005. 01 05 15 19 REPORT PERIOD This report covers activities of Sinochem International Corporation between 1st Chairman’s Environmental Shareholders January and 31st December 2015. In some instances content may reflect activities Employee and data from previous years. Address Protection and Benefits and Creditors REPORT PUBLICATION CYCLE Production Safety • Fair Employment • Stable Development This is an annual report. • Strengthening Environmental to Create Value for REPORT SCOPE Management and Improving • Protection of Rights Shareholders This report includes Sinochem International Corporation and its subsidiaries. Environmental Performance and Interests • Risk Prevention to REPORT REFERENCE • Strengthening Front-Line • Occupational Health The report follows the guidance of the Guidelines for Key State-owned Enterprises Effectively Protect the to Fulfill Corporate Social Responsibility, the Inform of Strengthen the CSR Management and Improving Interests of Creditors -
«Iiteiii«T(M I Ie
THE ST. JdfflJS NEWS. VOLUME XVIU—Na 38. THE ST. JOHNS ^NEWS, THURSDAY AFTERNOON. Maj 2. PAGES. ONE DOUJM A TBAB. BURIED LAST FRIDAY IMV M me SOCIAL EVENTS mSTALUTNW BONN lDMRi m I Hl VimKR.\i« HKRVIC’ES <IF l^\TIC NAI>PE:NIN€4H tiE THE WEEK IN MELD TFKSDAY BY 'THE NATIUK- I IE MlUi. .RARV Mc<liKK. IN HT. 4€»HNH WMTETl'. FUKIlin .AL PRflTKCTYVK UBOfON. lit*. Mftry A. McKee, whose death \l4»Hk ON THE CHAPMAN P.YC- MUs Anna Kyan and Miss MInnis AIMIII. KNDN BTITN THt^NDMR The new officers of the local lodge YKAK IMY WWUi MB OD April It. was related In last week's Harrinston entertained the teachers of National ProtectIre Laglon were C'RliUNAL AND CIVIL MA*] 111 m. JOHNS. laana, buried Friday. The fun- 1(;||Y TO BE ItCMHEII. of the city schiMds PrUlay evenInK In NWIRM AND PRRieBE. Installed Tuesday eeenlng by suite OP THE PART WEB erml aanrfces were conducted at the a ver>' pleasant an«l nx»vel manner. deputy J. It. Wyckoff of Grand Rap raaUMlce of her eon K. M> K«*e by At 7:10 the guests all In costume as ids as follows: Raw. O. 8. Northrop, the Iniermeni be- sembled at the home of Ml«s Ityan. Past president. Gserge O. Wilson: READY m THE HDUDAYS Um m*de In the Victor cemetery be- BY THE FIRST OF HIRE corner of Ottawa gnd Baldwin streets, THE COLDEST IN » YEARS pres.. Rosetta M. Drake; rice pram., it. NNSm B OONNi OVBt akla her husl»and who |uiee«-«l swax where they were ushered Into a room Herton K, Clark; eec'y. -
Patronage of Vladimir Putin
LLorord of the d of the RiRigsgs RosRosnenefftt a as s a a MMiirrrror oor off Rus Russisia’sa’s Ev Evololututiionon Nina Poussenkova Carnegie Moscow Center PortPortrraiaitt of of RosneRosneft ft E&P Refining Marketing Projects Yuganskneftegas Komsomolsk Purneftegas Altainefteproduct Sakhalin 3, 4, 5 Sakhalinmorneftegas Tuapse Kurgannefteproduct Vankor block of fields Severnaya Neft Yamalnefteproduct West Kamchatka shelf Polar Lights Nakhodkanefteproduct Black and Azov Seas Sakhalin1 Vostoknefteproduct Kazakhstan Vankorneft Arkhangelsknefteproduct Algiers Krasnodarneftegas Murmansknefteproduct CPC Stavropolneftegas Smolensknefteproduct VostochnoSugdinsk block Grozneft Artag Verkhnechonsk KabardinoBalkar Fuel Co Neftegas Karachayevo Udmurtneft Cherkessknefteproduct Kubannefteproduct Tuapsenefteproduct Stavropoliye ExYuganskneftegas: 2004 oil production (21 mt) – 4.7% of Russia’s total CEO – S.Bogdanchikov BoD Chairman – I.Sechin Proved oil reserves – 4.8% of Russia’s total With Yuganskneftegas: > 75% owned by the state Rosneftegas 2006 oil production (75 mt) – 15% of Russia’s total 9.44% YUKOS >14% sold during IPO Proved oil reserves – 20% of Russia’s total RoRosnesneftft’s’s Saga Saga 1985 1990 1992 1995 2000 2005 2015 KomiTEK Sibneft LUKOIL The next ONACO target ??? Surgut TNK Udmurtneft The USSR Slavneft Ministry of Rosneftegas the Oil Rosneft Rosneft Rosneft Rosneft Rosneft Industry 12 mt 240 mt 20 mt 460 mt 75 mt 595 mt VNK 135 mt Milestones: SIDANCO 1992 – start of privatization Severnaya Neft 1998 – appointment of S.Bogdanchikov