The China National Offshore Oil Corporation (CNOOC) has reportedly signed a deal to import up to AUD$80 billion (USD$73 billion) in natural gas from Australia. As demand for energy grows in China, it is expected Australia will supply much of this increase.
Earlier this month, CNOOC signed $3.1bn (Ã‚Â£2.1bn) for a 50% stake in Argentine oil and gas group Bridas Corporation.
Source: BBC News
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.