CHINA DOMINATES EXPLORATION AND PURCHASES OF MONGOLIA’S PROMISING OIL RESOURCES
January 1st, 2010
BY MARK GODFREY
IT has not traditionally featured on prospectors' radar but Mongolia is quickly emerging as an Asian oil exporter. Thanks to rising oil demand from China, the Petroleum Authority of Mongolia has inked production-sharing agreements on 12 oil fields with explorers from north America, Australia and China.
There was much excitement in government buildings in the capital Ulan Bator when major Chinese explorers proved major resources under the sprawling Gobi desert. Authority chairman Dashzeveg Amarsaikhan has said that the country has established ...
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