China is increasing its presence in the resource-rich Arctic, with its second-largest domestic oil company acknowledging ongoing involvement in oil exploration and development in the far north.
A source from Sinopec Group, Asia’s top refiner, confirmed to China Daily on Monday that the company is holding preliminary talks with Iceland over oil exploration off the northeast coast of the Nordic country.
The source said the talks are being held between the Icelandic government and Sinopec Star Petroleum Co Ltd, a clean energy subsidiary wholly owned by the group, but the person declined to release more details.
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Du Juan via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/K5Xw5GugdpM/
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