PetroChina, BP continue exploration
PetroChina and BP have agreed to continue exploring for coal-bed methane in Xinjiang, the Chinese firm said on Wednesday, days after saying it would welcome closer ties with the troubled British group. The comments were published after PetroChina told the Financial Times on Monday that it would "welcome cooperation opportunities" with BP, which is battling to contain a massive oil leak in the Gulf of Mexico.
PetroChina, the listed arm of the country's top oil producer China National Petroleum Corp, and BP have completed a preliminary assessment of the Sha Erhu block in the Tuha basin in the remote northwestern region of China, the company said.