Rivals in pact for oilfields: source

The flagship state energy firms of China and India, normally arch-rivals in the race for overseas oilfields, are teaming up for the first time to bid for a $1 billion package of assets in Syria.

China National Petroleum Corp. (CNPC) and India’s Oil and Natural Gas Corp. (ONGC) (ONGC.BO: Quote, Profile, Research) are bidding for Petro-Canada’s (PCA.TO: Quote, Profile, Research) interest in a major Syrian oil and gas joint venture with Royal Dutch Shell (RDSa.L: Quote, Profile, Research), a person close to the situation told Reuters on Friday.

Reuters