CNOOC Searches for Oil in U.S.

Wednesday, February 02, 2011

According to a report from the Associated Press, China's state-owned offshore oil and gas company is intensifying its search for oil in the western United States.  CNOOC Ltd. announced it will pay $570m for a one-third stake in Chesapeake Energy Corp.'s drilling project in an emerging oil field in northeast Colorado and southeast Wyoming.

(Source: AP)


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