(EnergyAsia, June 23 2011, Thursday) — Chinese state-run company CNOOC is withdrawing from its joint bid with Indonesia’s national oil company Pertamina for ExxonMobil’s US$3.5 billion stake in an Angolan oil project. CNOOC’s withdrawal stemmed from a dispute with Pertamina over the terms of the renewal of oil concessions at West Madura in Indonesia. The…
INDONESIA: State Pertamina, CNOOC dispute jeopardises joint bid in Angolan project
Posted on June 23, 2011 by EnergyAsia