Economy

Demeter

(85,373 posts)

9. CHINA'S CNOOC licensed to seek Arctic oil IN ICELANDIC WATERS!

Tue Mar 4, 2014, 10:07 PM

Mar 2014

JUST WHEN YOU THINK THERE'S A SMART PLACE IN THE WORLD....

http://europe.chinadaily.com.cn/2014-03/04/content_17319412.htm

China National Offshore Oil Corp (CNOOC), the country's largest offshore oil and gas developer, has become the first Chinese firm licensed to look for oil in the Arctic, a landmark step for overseas energy exploration for the world's second-largest economy.

CNOOC has partnered with Iceland's Eykon Energy in an application for a license to explore oil and gas resources in Arctic waters since last June.

On Jan 22, Iceland's national energy authority, Orkustofnun, granted the new offshore license to the Chinese company as an operator with a 60 percent share, to Eykon Energy with a 15 percent share and to Petoro Iceland AS with a 25 percent share, the company told China Daily on Thursday...

LOTS MORE AT LINK

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