South China Sea perhaps holds large oil reserves

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Source: Bloomberg
© Scanpix/AP
According to Chinese research made in 2008, South China Sea may contain 213 bn barrels of crude oil or 80% Saudi Arabia oil resources. China claims unquestionable sovereignty regarding most of the South China Sea including areas that Exxon Mobil and Gazprom are examining. Disagreements have raised tension between China and its neighbours and threat maritime security.

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Fri, 11 Nov 2011 11:04:12 GMT

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