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Excon, Excon 2011 Biggest Construction Equipment Trade fair India.

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CNPC, ADNOC ink crude pact

7/18/2009 1:57:00 PM

Beijing, August (EPC News): China National Petroleum Corp (CNPC) said that it has signed a memorandum of understanding with Abu Dhabi National Oil Co (ADNOC) to cooperate in crude oil trading, shipping and storing.

The agreement was signed on Friday in Beijing, witnessed by top leaders from China and the United Arab Emirates. CNPC inked a $3.29 billion service deal, its largest ever, with International Petroleum Investment Co of the UAE in December to build a 1.5 million barrel-per-day crude pipeline from Habshan oilfield in Abu Dhabi to the Fujairah port in the Middle East kingdom, Chinese media reported.