China Signs Oil Deals With Majors as Xi Underscores Open Trade
- CNOOC signs production sharing contracts with nine companies
- The accords follow Xi’s address marking 40 years of reform
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China signaled its openness for business with a raft of deals that’ll give oil majors including Royal Dutch Shell Plc new opportunities to develop fields in partnership with the nation’s biggest offshore explorer.
China National Offshore Oil Corp. said in Beijing on Tuesday that it had inked oil and gas accords with nine firms. The signing ceremony followed President Xi Jinping’s address to party cadres marking 40 years of reform and broadly underlining the nation’s commitment to global trade.