Sept. 29 – Dismissing China’s recent comments strongly condemning Vietnam and India for planning oil and gas exploration in the disputed South China Sea region, India’s state-run oil firm ONGC Videsh Ltd. has said it would go ahead with its planned operations in the region.
“Energy security is among our top priorities. ONGC Videsh Ltd. has been there in Vietnam for the past 10 years. Now it is planning to sign an MoU for strategic cooperation to take the ties with Petro Vietnam forward,” said an Indian official. Continue reading
Sept. 21 – China and India, two emerging Asian giants boasting huge populations and rapid economic growth, are seen as the major drivers in the push to revive the world’s economy. However, the two countries’ needs for natural resources is growing at the same speed as their economies and, in an attempt to satisfy those needs, China and India have started a fierce competition to acquire natural resources.
The latest example of this is both countries’ interest in Australia’s second largest coal field – the northern Galilee Basin in Queensland. Although production on the field won’t begin for another three years, Indian and Chinese companies have already contracted all but 1.2 billion of the more than 20 billion tons of coal resources in the basin. Continue reading
Sept. 16 – China, seemingly forgetting its policy of non-interference in other states’ affairs, has begun a public dialogue with India objecting to an agreement signed between India’s state-owned Oil and Natural Gas Corporation (ONGC) Videsh Limited and Vietnam’s Petro Vietnam for oil and gas exploration in the South China Sea.
Petro Vietnam has entered into a joint venture with India’s ONGC to develop Blocks 127 and 128 after ONGC bought BP’s assets in the project in 2006. However, China is claiming all of the South China Sea as its “indisputable sovereignty,” a position that would take China’s territory right up to the Vietnamese coastline. Continue reading
Aug. 22 – On August 20, the China North Sea subsidiary of U.S.-based energy giant ConocoPhillips “admitted” that nine new oil spill sources were found on the northwest side of Platform C of the Penglai 19-3 oilfield in Bohai Bay, according to the North China Sea Branch of the State Oceanic Administration (SOA).
Other leaks had been discovered in June and early August at the same oilfield – which is operated in cooperation with state-run China National Offshore Oil Corp. – and now the amount of spilled oil has increased to 2,500 barrels, as the leaks have not been effectively dealt with. The oil has contaminated 4,250 square kilometers of sea, causing severe environmental damage. Furthermore, fishermen in the coastal provinces of Shandong, Hebei and Liaoning have suffered heavy economic losses as a result, state media reported. Continue reading
Aug. 3 – China’s application to undertake deep-sea mineral exploration activities in the southwestern Indian Ocean has been approved by the International Sea-bed Authority (ISA), giving China exclusive rights to explore polymetallic sulphide ore and priority mining rights for future development programs.
“The [ISA] approved the application from the China Ocean Mineral Resources Research and Development Association (COMRA) to explore an area of the ridge for 15 years, covering about 10,000 square kilometers, on July 22,” Wang Fei, deputy director general of China’s State Oceanic Administration and president of COMRA, said on Tuesday during a press conference. Continue reading