Originally published November 29 2005
Joint venture will develop oil projects in Mauritania and Algeria
by Mike Adams, the Health Ranger, NaturalNews Editor
GEECF and Sahara Petroleum will combine with Sinopec Subsidiary on a series of oil and gas projects in Mauritania and Algeria.
Global Environmental Energy Corp. (BULLETIN BOARD: GEECF - DE: GLI) today that with its subsidiary Sahara Petroleum Exploration Corp., a Corporation registered in the Commonwealth of the Bahamas (SAHARA) and the Algerian company, Geoinvest Ltd., have entered into a Memorandum of Understanding to form a joint venture, with Sinopec Shengli Oilfield Co., Ltd., a wholly owned subsidiary of China Petroleum and Chemical Corporation (Sinopec Corp. NYSE: SHI).
The joint venture is intended to develop three oil and gas projects, at two locations in Algeria and one in Mauritania.
The Shenzhen Branch of Yankuang Group Co.
In recent years, the company has been implementing risk exploration abroad, and has won cooperative blocks in Iran, Kazakhstan, Kirgyzstan and other counties.
The company was set up on February 28, 2000 by China Petrochemical Corporation (Sinopec Group) as the sole sponsor, pursuant to the [Company Law of the People's Republic of China] and in line with the principle of "separation of core business from the ancillary, performing assets from non-performing assets, and enterprise functions from the social", after the restructuring of its business portfolio, assets, debts and creditor's rights, organization and personnel.
Sinopec Corp. issued 16.78 billion H shares in Hong Kong, New York and London on Oct. 18th and 19th, 2000.
The Company floated 2.8 billion A shares in Shanghai Stock Exchange on July 16th, 2001.
Yankuang Group Co., Ltd., has assets of RMB 22.844 billion (@USD$2.82 Billion United States Dollars) and more than 50 subsidiaries.
Sahara Petroleum Exploration Corp., is becoming a fully integrated energy company whose interests include traditional oil and gas exploration and development.
The Biosphere Process(TM) System, a central part of the EcoTechnology(TM) system, can safely and efficiently processes traditional and non-traditional waste materials into electricity and other beneficial by-products.
All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing LLC takes sole responsibility for all content. Truth Publishing sells no hard products and earns no money from the recommendation of products. NaturalNews.com is presented for educational and commentary purposes only and should not be construed as professional advice from any licensed practitioner. Truth Publishing assumes no responsibility for the use or misuse of this material. For the full terms of usage of this material, visit www.NaturalNews.com/terms.shtml