Lavrov invites Swedish politicians and journalists to visit CrimeaRussian Politics & Diplomacy February 21, 13:56
Russian top diplomat says Moscow to ensure aviation safety over Baltic SeaRussian Politics & Diplomacy February 21, 13:41
Kremlin: Putin made no statements on participation in 2018 presidential electionRussian Politics & Diplomacy February 21, 13:15
Kremlin declines to comment on appointment of Trump’s new national security adviserRussian Politics & Diplomacy February 21, 13:09
Press review: Russia’s UN envoy dies in New York and Iran urges closer ties with MoscowPress Review February 21, 13:00
Peskov on Ukraine blocking UNSC statement on Russia's late envoy: 'May God judge them'Russian Politics & Diplomacy February 21, 12:59
President of Azerbaijan appoints his wife as first vice-presidentWorld February 21, 12:37
Ukrainian MP Savchenko renounces parliamentary immunityWorld February 21, 12:32
Lavrov voices hope for restoration of Russia-Sweden relationsRussian Politics & Diplomacy February 21, 12:21
LONDON, January 4 (Itar-Tass) — China’s second largest energy corporation Sinopec has been given the green light for oil production in the United States, the British Sky News channel reported on Wednesday, January 4.
Under the 2.5 billion U.S. dollar deal, Sinopec will buy a 30 percent participatory share in American Devon Energy’s five oil production projects in different parts of the U.S.
“China Petrochemical Corp.'s 2.5 billion U.S. dollar deal with Devon Energy Corp. …marks the third billion-dollar-plus joint venture that foreign energy firms have signed with U.S. explorers in as many weeks,” Sky News reported.
Sinopec will also invest 80 percent (1.6 billion U.S. dollars) in the development of these fields and contribute 900 million U.S. dollars in cash.
“Known as Sinopec, China Petrochemical is making its first foray into the U.S. by buying a one-third stake in Devon's acreage in five emerging fields—four shale plays and one limestone field,” the channel said.
London experts say that Sinopec is seeking access to new oil production technologies used by Devon Energy.
At the same time, France’s biggest energy company Total will pay 2.3 billion U.S. dollars for access to U.S. shale gas fields. It will set up a joint venture with American Chesapeak and EnerVest for the development of Ohio’s largest field.
Under the deal, Total will buy 25 percent of shares in the joint venture and invest 60 percent (1.63 billion U.S. dollars) in the development of the field. It will contribute another 700 million U.S. dollars in cash.
The French parliament has suspended shale gas production in France pending a thorough study of its impact on the environment.