Chinese increase Oil search in U.S.

China’s state-owned offshore oil and gas company is intensifying its search for oil in the western United States. CNOOC announced it will pay 570 million US dollars (£359m) for a one-third stake in Chesapeake Energy’s drilling project at an emerging oil field in north-east Colorado and south-east Wyoming. Chesapeake, an oil and natural gas company based in Oklahoma City, will operate the project, while CNOOC will pay two-thirds of the project’s drilling costs, up to an additional 697m US dollars (£440m). In October, CNOOC paid 1.08bn US dollars (£681m) for a one-third stake in a Chesapeake drilling project in South Texas. Both deals give CNOOC access to shale deposits, an emerging source of oil in the western United States. ((31 JAN 2011))

A
http://story.chinanationalnews.com/index.php/ct/9/cid/9366300fc9319e9b/id/42509186/

B
http://www.chinanews.net/story.php?rid=42509186

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Chinese Dragon

http://story.chinanationalnews.com/index.php/ct/9/cid/9366300fc9319e9b/id/738532/cs/1/

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1
https://gheorghe47.wordpress.com/2011/01/29/keystone-xl-canada-texas-atlantic-panama-pacific-panama-china/

2
https://gheorghe47.wordpress.com/2011/01/31/taxpayers-money-is-supporting-dirty-energy/

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