SINOPEC IN TALKS WITH ICELAND OVER OIL EXPLORATION

BEIJING - Sinopec Group, China’s largest State-owned oil exploration enterprise, has confirmed it is in talks with Iceland over oil exploration in Iceland’s coastal waters. The talks involve Sinopec Star Petroleum Co Ltd, a clean energy subsidiary wholly-owned by the group, which has signed an agreement with the Icelandic company Orka Energy Holding. CNOOC Ltd, the biggest offshore oil producer in China, has already signed an agreement separately with Iceland-based Eykon Energy to bid for an exploration license.