Norway to Join Chinese Firm in Iceland Oil Exploration

Norway said it would team up with a Chinese firm to explore for oil offshore Iceland, in a rare cooperation for the two countries since a diplomatic row over the award of the 2010 Nobel Peace Prize to Chinese dissident Liu Xiaobo. Norway has the right to join an exploration licence with Chinese oil firm CNOOC in the waters between Iceland and Norway’s Jan Mayen island, and Norway’s government decided it should participate. “Icelandic authorities are now planning to allocate an additional licence as part of the second licensing round, and Norway should participate,” the oil ministry said in a statement on Friday. Diplomatic ties between Beijing and Oslo have been virtually frozen since the 2010 Peace Prize, and collaboration in Iceland may be a sign that relations could be improving. Under a 1981 […]

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