Husky Energy is still discussing its options for sales of crude and condensate from its South China Sea projects, but sources say the Canadian independent would prefer to sell the output to its partner, China National Offshore Oil Corp. (CNOOC), than to export it. Sales of Husky's share of crude from the Wenchang field and condensate from the deepwater Liwan gas scheme are in theory open to all buyers, provided Husky stands to benefit, but state-owned CNOOC seems the best option in terms of pricing, financial firepower and Chinese government policy, one source tells International Oil Daily. "Husky has [a] close relationship with CNOOC and, most importantly, CNOOC has made a very good offer, so Husky prefers to sell to CNOOC," the source said. "CNOOC's credit is much better than other companies, based on Husky and CNOOC's long-term cooperation."
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