• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Even Shell Agrees with Climate Change!
  • 8 days America should go after China but it should be done in a wise way.
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Kyrgyzstan’s Explosive Car Market Growth Raises Eyebrows

Kyrgyzstan’s Explosive Car Market Growth Raises Eyebrows

Kyrgyzstan is seeing significant growth…

Norway Oil Official To Discuss Cooperation With China’s CNOOC

A deputy minister at the Norwegian petroleum ministry will talk about possible cooperation with China’s oil producer CNOOC on Thursday, before Norway’s Prime Minister visits China later this week in a sign that the two countries were continuing to patch up relations that were frozen in 2010 when Chinese dissident Liu Xiaobo was awarded the Nobel Peace Prize.  

In December last year, Norway and China fully restored political and diplomatic relations. Now, Norway’s Prime Minister Erna Solberg will visit Beijing between April 7 and 10 and will meet President Xi Jinping, Prime Minister Li Keqiang, and other officials, to renew political and economic cooperation with China.

According to officials who spoke to Reuters, now a deputy oil minister from Norway will be meeting with executives from the biggest Chinese offshore producer, CNOOC, which had said back in 2010 that it would be interested in doing business in Norway.   

Given Norway’s existing and potential offshore oil and gas resources and Statoil’s status of an international oil major, on the one hand, and China’s energy demand on the other hand, both countries could benefit from boosting oil ties.

Norway and CNOOC are not complete strangers, even when relations between the Nordic country and China were frozen.

Back in 2013, Norway said it would join CNOOC in exploring for oil offshore Iceland. Under a treaty from 1981, Norway has the right to take a 25-percent stake in Iceland’s oil licenses.   

Related: World’s Biggest LNG Exporter Just Raised The Stakes

The following year, in October 2014, CNOOC and its Canadian subsidiary Nexen Inc. were interested in buying seismic data for an area in Norway’s Arctic, in the Barents Sea, according to an email of the companies to the Norwegian Petroleum Directorate that Bloomberg had obtained.   

Apart from the Iceland license for exploration, CNOOC’s closest current operations near Norwegian waters are in offshore UK, where it has a 43.2-percent interest in the Buzzard oil field and a 36.5-percent stake in the Golden Eagle oil field. 

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News