On November 29, Zhou Shouwei, Vice President of the China National Offshore Oil Corporation (CNOOC), said that the CNOOC has always actively sought opportunities for overseas acquisitions. Now the company has appropriated US$4.8 billion to 4.9 billion for these kinds of activities but he refused to reveal any details.

Meanwhile, Yang Hua, chief finance officer of the CNOOC, revealed that three regions -- Africa, the Asia-Pacific area and the Caspian Sea -- are at the top of the CNOOC's list of investments because resources and taxation policies, among many other things, are very favorable in these areas.???

Fore more details, please read the full story in Chinese. (http://www.bbtnews.com.cn/news/channel/political33509.shtml)

(China.org.cn November 30, 2007)