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CNOOC seeks closer Russia ties, says political support vital.

Publication: The Oil Daily
Publication Date: 09-DEC-05
Format: Online
Delivery: Immediate Online Access
Full Article Title: CNOOC seeks closer Russia ties, says political support vital.(China National Offshore Oil Corp.)

Article Excerpt
China National Offshore Oil Corp. (CNOOC) has sparked fresh speculation about its overseas ambitions, after Chief Executive Fu Chengyu said he was interested in acquiring assets from beleaguered Russian oil giant Yukos.

In an interview with local newspaper Shanghai Securities Journal, Fu said CNOOC was willing to step up cooperation with Russian companies and "has an interest" in investing up to $10 billion to acquire Yukos' noncore assets.

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