Statoil of Norway is closing in on a deal to explore shale gas reserves in China in spite of tensions between Beijing and Oslo over the award of the Nobel Peace Prize to a Chinese dissident.
Helge Lund, chief executive, indicated that last month’s decision by the Norwegian Nobel committee to honour Liu Xiaobo, the jailed human rights activist, had not derailed the group’s ambitions.
“We are in the process of entering into an agreement to look at [shale gas] opportunities in China,” he told the Financial Times, without giving further details.
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