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CNPC secures Abu Dhabi oil field deal

2014-04-30 11:04 Global Times Web Editor: qindexing

China National Petroleum Corporation (CNPC) has secured the rights to produce and export oil from Abu Dhabi, helping China secure more fuel for its rapid economic growth, Reuters reported on Tuesday.

State-owned CNPC has expanded over the past decade to over 30 countries to help secure supplies of the oil and gas that China needs.

Under the latest deal granted by the president of the United Arab Emirates (UAE), China's biggest energy company will help develop several onshore and offshore fields in Abu Dhabi and take a share of any oil produced, UAE state news agency WAM said.

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