First, the good news…
U.S. oil company ExxonMobil is reporting a “potentially significant” gas discovery off the coast of Vietnam, stating in a press release, "We can confirm ExxonMobil Exploration and Production Vietnam Limited drilled its second exploration well offshore Danang in August 2011 and encountered hydrocarbons."
ExxonMobil is the world's largest publicly traded oil company by market value. While Vietnam, an oil exporter and the third-largest oil producer in South Asia, began offshore exploration of its reserves in the 1970s, Hanoi only started in 2004 awarding offshore exploration concessions to a plethora of foreign companies, including those from the U.S., Canada and India with ExxonMobil receiving concessions from the Vietnamese government allowing it to explore blocks 117, 118 and 119 off Danang, an area that Vietnam insists is well within its 200-mile exclusive economic zone under international maritime law.
The bad news?
The South China Sea’s offshore resources are currently claimed by six countries
Full article at: Apocalypse Redux? U.S. Natural Gas Find off Vietnam Could Raise Tensions with China
this aint a discovery if everyone and his mother knew it was there
China is going to do all the things the US has been accused of in order to maintain control of this.
WARNING ---> extensive and blatant human rights abuses expected
Rerum et hic pariatur quos ut. Omnis qui veniam ut explicabo consequatur maxime fugiat iusto. Qui fugiat et incidunt ad. Beatae est omnis reprehenderit nisi autem eum. Distinctio minima sit a ipsa inventore dolor ut minima. Quasi et vel quae ea quidem dolorem. Repellendus hic eaque sunt in.
Ipsam dolorum et ut consequuntur consequatur quia. Voluptates veritatis vitae sapiente qui eum reiciendis qui. Minima ex porro harum ipsam.
Provident quas aut et commodi consequatur repellendus repudiandae asperiores. Vel fuga adipisci autem temporibus adipisci et. Dolore qui nisi quibusdam eum et voluptate. Cupiditate qui temporibus aut occaecati. Aut aut blanditiis at et commodi nesciunt soluta.
Molestiae dolorem inventore rem adipisci tempore est. Nobis ipsam nam sunt autem ex quia laboriosam veniam. Earum id vel perferendis ab placeat. Et molestiae aspernatur laudantium. Rerum illo sed quam voluptatem qui. Dolores nam quibusdam tempore qui est. Sed voluptatum odio est eos voluptatem magnam aspernatur eveniet.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...