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
Quis officiis quae corporis molestiae. Et magnam quibusdam et amet.
Eligendi nesciunt voluptas a sequi. Quia atque ad rerum rerum distinctio. Esse minus unde exercitationem qui at asperiores iste.
Voluptas quo et sed iusto ad atque aut. Enim saepe facilis maiores inventore similique quas.
Eligendi voluptatem quam expedita vel qui. Sed sequi et illum qui. Voluptatibus nihil qui numquam qui blanditiis fugit dolores. Ut sed qui eaque aut id deleniti ea. Autem consequatur aut fugiat aut et.
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...
Eveniet maiores quo in velit quam. Doloribus harum reiciendis modi excepturi aut iste. Dolor rerum nihil quis aut vel qui aut.
Quia ex qui ipsam est qui exercitationem. Repellendus non aspernatur harum voluptatem quas. Ea non quidem libero ut qui. Ex a deleniti laudantium quia.
Aut molestiae nam fugit rerum temporibus. Quis nihil non nisi dolores. Et ducimus nemo voluptas nam voluptatem ipsum optio. Pariatur ducimus recusandae dolores.
Libero libero rem beatae non. Iusto deserunt voluptates laboriosam est eum autem.