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China gets approval for Afghanistan oil exploration bid [View All]

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dbt

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Tue Dec-27-11 04:29 AM
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China gets approval for Afghanistan oil exploration bid

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Source: BBC

China has gained potential access to millions of barrels of oil after it won approval for oil exploration and extraction in Afghanistan.

The country's cabinet approved a deal to allow China National Petroleum Corporation (CNPC) to develop oil blocks in the Amu Darya Basin.

The basin is estimated to hold around 87 million barrels of oil. <snip>

The approval is a major win for China as it has been looking to invest in resource-rich Afghanistan.

Read more: http://www.bbc.co.uk/news/business-16336453

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