CPC hopes to revive project with CNOOC
CPC Corporation of Taiwan, the state-owned oil company, said yesterday it hoped to resume joint oil exploration soon with China National Offshore Oil Corporation (CNOOC) in the Taiwan Strait, which divides the self-governing island from the Chinese mainland. The plan reflects hopes that a warmer political climate between Beijing and Taipei could revive the sensitive project, which has been held up for years by tensions between China's Communist government and the island's democratically elected government.