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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China, Taiwan sign oil cooperation deals AP - 1 hour 49 minutes ago BEIJING - China National Offshore Oil Corp., the country's largest offshore oil and gas producer, signed four oil cooperation agreements Friday with Taiwan's CPC Corp., state media reported. The deals were signed by CNOOC Chairman and CEO Fu Chengyu and CPC Chairman Wenent Pan, according to the official Xinhua News Agency. The agreements included a letter of intent for closer cooperation, a revised contract on joint exploration in the Tainan Basin off the Taiwan Strait and the Chaozhou Shantou Basin off the southern Guangdong coast, a joint study on the Wuqiuyu Basin, and a transfer of a 30 percent stake of CNOOC's onshore Block 9 in Kenya to CPC. Fu said CNOOC has established good rapport with CPC Corp. since 1994 when the two companies started cooperation. CPC Corp., based in Taipei, is a government-owned oil refiner. The deal appeared to be the latest sign of warming relations between the longtime rivals. Taiwan and China split amid civil war in 1949. The mainland continues to claim the self-governing island as part of its territory and has threatened to attack if it moves to formalize its de facto independence. Tensions have abated significantly since the inauguration of Taiwanese President Ma Ying-jeou in May. In contrast to his pro-independence predecessor, Ma wants to tighten economic relations with China as a way of boosting Taiwan's economy. On Dec. 15, the two sides initiated daily air and direct maritime links after a break of nearly 60 years. Direct links across the 100-mile- (160-kilometer-) wide Taiwan Strait is expected to generate new business for the two sides, which have annual bilateral trade at about $100 billion. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China's Spreadtrum lowers Q4 revenue view; cuts jobsReuters - 1 hour 27 minutes ago China, Taiwan sign oil cooperation dealsAP - 1 hour 49 minutes ago Thai leader proposes $8.7 bln stimulus packageAP - Saturday, December 27 Asian markets mixed in quiet holiday tradeAP - Saturday, December 27 Related Articles: Business US STOCKS-GMAC decision, energy stocks lift Wall StReuters - 15 minutes ago Turkish bond yields at 11-mth low on rate hopes, stocks upReuters - 27 minutes ago King must sell Kadian assets to buy AlpharmaAP - 37 minutes ago China, Taiwan sign deals to boost oil explorationReuters - 47 minutes ago FOREX-Dollar falls vs euro, unchanged vs yen in thin tradeReuters - 1 hour 2 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Tough times seen ahead for British, Japanese economies Australian 'mummy smuggler' arrested in Cairo Funeral of Guinea strongman as junta tightens grip Weather outside frightful for US, Canada travelers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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