China-Vietnam row hits energy groups

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Financial Times, June 27, 2012 5:48 pm

By Ben Bland in Jakarta and Gwen Robinson in  Bangkok

Some of the world’s biggest energy companies, including ExxonMobil and  Gazprom, have been thrust into the  deteriorating territorial dispute between China and Vietnam in the  resource-rich South China Sea.

Vietnam on Wednesday accused China of acting “illegally” after state-owned  China National Offshore Oil Corporation (Cnooc) invited foreign companies to  tender for exploration rights in an area that Hanoi says infringes on blocks  that it has already licensed to America’s ExxonMobil and Russia’s Gazprom.

Read full story:

http://www.ft.com/cms/s/0/1e597a9e-c067-11e1-9372-00144feabdc0.html#axzz1z6CFk5Hg


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