CNPC, Nippon Oil to cooperate

Japans Nippon Oil and China National Petroleum Corporation (CNPC) signed a memorandum of understanding on April 12 to seek long-term cooperation in areas covering their upstream and downstream oil and gas businesses. The agreement was signed by Nippon Oil Chairman Fumiaki Watari and CNPC President Jiang Jiemin at the opening session of a joint energy cooperation seminar in Tokyo. The agreement covers expansion of trade in crude oil, petroleum products, and liquefied petroleum gas; cooperation in transporting oil products, LPG and LNG; seeking opportunities in oil and gas upstream projects and exchanging technologies in the refining and petrochemical businesses. (April 13, 2007)