CNPC Gets Go-Ahead On Shale Exploration Venture

Law360, New York (December 10, 2012, 4:08 PM EST) -- As joint ventures with multinational companies continue to gain steam in China's oil and gas markets, a Chinese agency has approved a shale exploration project being spearheaded by a unit of China National Petroleum Corp. and an unnamed foreign partner, according to a Monday report.

The National Development & Reform Commission has greenlighted the joint venture's plans to explore for oil in the Santanghu basin of the Xinjiang Uyghur region, according to a Dow Jones report. The foreign partner is thought to be a partnership of...
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