China Oilfield Services, a division of the country’s largest offshore oil drilling company CNOOC, announces that its European division has won a five-year drilling contract from Statoil in the North Sea. The economics of trade are not mentioned at this point.
The deal was made on the same day that the Nobel Prize was given to an empty chair at the controversial ceremony in Oslo which China angrily called a “farce” and “political theatre”.
China had also warned Norway against the decision to give the prize to Liu, and said it would destroy the trade relations between the two countries. But obviously not concerning trades executed in the lucrative oil industry.