About CNOOC, the Chinese offshore ‘Monopoly’

cnoocChina National Offshore Oil Company CNOOC is a public entity of the republic of China, with the mandate to sell national interest in the exploration of petroleum resources overseas.

CNOOC’s mandate came following the promulgation of  regulations concerning offshore oil resources by the Chinese State council in 1982. The regulations granted CNOOC an exclusive right of conducting oil exploration, development, production and selling and completely taking charge of the business of exploiting oil resources in cooperation with overseas partners offshore from China

Read more on Wikipedia and CNOOC             

 

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