China Reports Major Offshore Oil Find – AP

From AP via IHT:

China has found a huge offshore field that could become the -hungry country’s biggest new source in a decade, a state news agency said Wednesday.

The scale of the discovery, if confirmed, would be welcome news to Beijing, which is struggling to reduce reliance on oil imports to fuel its booming economy. China is the world’s No. 2 oil consumer behind the United States and its oil imports rose 14.5 percent last year….[Full Text]

– Read also Report: China makes major new oil find by Businessweek



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