Taiwan and China will move forward with economic integration through a CPC–CNOOC joint oil exploration in the Diaoyu Islands. From Ta Kung Pao (Hong Kong), via RedOrbit:
A few days ago two major energy enterprises in the mainland and Taiwan decided to join hands in prospecting for and exploiting oil and gas resources in China’s Diaoyu Islands waters. This move marks the rise of cross-Strait energy cooperation to a new height and also deals a heavy blow to some Japanese energy experts’ wild ambition to encroach on the energy resources at China’s Diaoyu Islands.
The Diaoyu Islands, also known as the Senkaku Islands, are a group of islands lying about 170 km northeast of Taiwan. They are claimed by both the PRC, Taiwan, and Japan.
Collaboration between Taiwan’s CPC and China’s CNOOC has been proposed in the past, but has never been followed through on.
