Beijin. Cosco Dalian Shipyard has commenced the construction of the first deepwater drilling rig built in China and the world's largest deepwater rig built to date. The Dalian Pioneer is being built with a hull 290 meters in length and 50 meters in width. It is designed be operated in waters as deep as 10,000 ft and to drill to a maximum depth of more than 30,000 ft. It is to be capable of storing up to a million bbl of crude oil.

Beijing. Kingdee International Software Group Co, a China-based enterprise management software and middleware provider, has posted RMB 88.73 million-net profit for the first half of this year, reflecting a year-on-year increase of 18.58% from RMB 74.83 million.

Seoul, South Korea. KNOC's bid for Dana Petroleum is an attempt to catch up with Asian rivals following Chinese and Malaysian ventures in Iraq.

Beijing. CNOOC achieved a record net production of 149.0 million barrels of oil equivalent (BOE) in the first half of 2010, representing an increase of 40.8% year-on-year (YOY). The net profit amounted to RMB25.99 billion, up 109.6% YOY.