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China and India will jointly develop overseas oil and gas

Source:SAM-UK Date:2012-06-21 14:13 Visits:202

India and China's largest oil company reached an agreement together on a global scale exploitation of oil and gas resources in an attempt to shelve the long-term competitive and make better use of joint financial resources and expertise, to ensure energy supplies for its fast-growing economies.
Although these two energy-scarce countries to cooperate in a number of international oil projects, but the history of the two countries has always been hostility Although he had formed an alliance to try to buy foreign energy assets and crude oil in order to reduce costs, but most of the dip in the soup.
Monday, India's state-owned oil and gas company and China National Petroleum (601,857, stock it) (CNPC) signed a preliminary agreement, the two companies will jointly explore the assets of other countries, the consolidation of existing partnerships in Myanmar, Syria and Sudan.
Indian oil and gas company said in a written statement, the company also reached an agreement with China to expand cooperation in the extraction and processing of crude oil and natural gas, petroleum products marketing and distribution, as well as the construction and operation of oil and gas pipelines.
Dinesh Saraf, Managing Director of the Indian oil and gas companies overseas investment subsidiary, said: "We believe that cooperation is better than the competition."
Get all over the world oil and natural gas resources, equity, is more successful than India, often in developing countries for infrastructure projects to provide large loans and funding for four state-owned energy companies signed an agreement to match. One of the biggest company of China National Petroleum Group and its listed subsidiary of China National Petroleum Corporation.
Indian oil and gas companies overseas investment subsidiary is working with the China National Petroleum Group transportation Burma gas pipeline matters to cooperate. This pipeline will be completed next year.
The two sides also cooperate with Syria, jointly hold 36 shares of production areas. The areas of cooperation include the Sudan, despite the military conflict between the Sudan and South Sudan, where oil exploration has been largely discontinued.
Oil and Indian oil and gas companies have expressed interest in participating in the construction of oil pipeline from southern Sudan to Kenya, East Africa coast, thus bypassing the traditional export routes through northern Sudan.