Chesapeake’s New Business Partner: China?
by Steve SmithMemo to Julie Wilson: Have someone translate “Let’s Get Behind the Barnett” into Chinese immediately.
The South China Morning Post is reporting that China National Petroleum Corp (CNPC), the state-owned energy company of the People’s Republic of China, is considering bidding for minority stakes in shale gas assets owned by Chesapeake Energy.
It is worth noting that CNPC has extensive and problematic operations in Sudan and highlights on its website the new deal it has with the government of Myanmar and also does business with Hugo Chavez in Venezuela. Would superpatriot Chesapeake CEO Aubrey McClendon really consider a business arrangement with the CNPC? It would kind of undermine the whole national security argument about the benefits of gas drilling if he doesn’t tell them to go pound sand immediately.
Tags: Aubrey McClendon, Barnett Shale, Chesapeake Energy, Julie Wilson
3 Comments, Comments or Pings
sirius_girl
ya gotta’ appreciate people like Aubrey McClendon.
he’s what America’s all about - as long as he’s talking, everthing’s fine.
right, TP?!
heh!
Jul 27th, 2008
Paul
This sounds like welcome news, really. Now Chesapeake might finally adopt the high standards of management transparency and environmental concern for which the Chinese are world famous!
Jul 28th, 2008
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