October 20, 2009

China Could Drill for Oil in the Gulf of Mexico

Norway's national oil major StatOilHydro is in talks with China National Offshore Oil Corp (CNOOC) on the sale of leases offshore the southern USA between Houston and New Orleans. Both companies are listed on the NYSE. The blocks are in deep water and include areas near where a consortium lead by BP recently found large oil deposits deep in the earth's mantle. No other details at this time....

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