Statoil to Develop LNG Projects CNPC

Norway's Statoil will cooperate with China National Petroleum Corp (CNPC), China's largest oil producer, to develop a liquefied natural gas (LNG) projects, a senior Statoil official said. According to reports, Ole-gohan Lydersen, vice-president of Statoil International EMP Co, said at an industry conference here that both sides will also cooperate on domestic and international oil and gas exploration.

CNPC is in talks with Iran over the project and is expected to sign a seven-year deal soon, according to the official Shanghai Securities News. Source: XFN