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BEIJING, Nov. 28 (Xinhua) -- China National Offshore Oil Company Limited (CNOOC) said Sunday Bridas Corporation, a joint-venture equally-owned by CNOOC International Limited and Argentina-based Bridas Energy Holdings (BEH), will acquire a 60 percent equity interest in Pan American Energy (PAE) from BP for approximately 7.06 billion U.S. dollars.The acquisition excludes PAE's assets in Bolivia, according to a statement on the website of CNOOC, China's largest offshore oil and gas producer.CNOOC International, a wholly owned subsidiary of the company, and BEH have agreed to contribute about 4.94 billion U.S. dollars to Bridas to finance 70 percent of the proposed acquisition. The contribution will be made in equal amounts of approximately 2.47 billion U.S. dollars by CNOOC International and BEH.The remaining 30 percent, or approximately 2.12 billion U.S. dollars, will be satisfied by third party loans to be arranged by Bridas and additional contributions from CNOOC International and BEH.Completion of the acquisition is conditional on, among others factors, all necessary government and regulatory approvals, and is expected to take place in the first half of 2011.In the first half of 2010, CNOOC International and BEH completed the formation of a half-half joint venture in Bridas.

BEIJING, Dec. 21 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for strengthening efforts in ecological and environmental protection as the country strives for economic restructuring and improving people's livelihoods.Li made the remarks Monday at a meeting on the application of research results on China's environment. The research project was launched three years ago to map out a macro environmental strategy for the country.Li visited an exhibition to show the research results of hundreds of experts and scholars in the environment sector, saying that the findings should be used as a source of reference in the country's next five-year pprogram (2011-2015) to promote environmental protection.Li then exchanged views with experts during a meeting, saying that China had made achievements in the environmental protection efforts in its 11th five-year program period (2006-2010), having fulfilled major pollution control targets.Chinese Vice Premier Li Keqiang (C), shakes hands with an expert attending a meeting on the application of research results on China's environment in Beijing, capital of China, Dec. 20, 2010. The research project was launched three years ago to map out a macro environmental strategy for the country. According to Minister of Environmental Protection Zhou Shengxian, during another meeting on Tuesday, the sulfur dioxide index is expected to drop 14 percent in 2010 compared with the 2005 level.Also, the index of Chemical Oxygen Demand (COD), a measure of water pollution, is expected to decrease 12 percent.China's 11th five-year program set out to reduce COD and sulfur dioxide levels by 10 percent over this period.However, Li stressed that China faced more pressure in environmental protection than any country in the world, since it was a developing nation striving for modernization and with a huge population of 1.3 billion.China should innovate its development mode and endeavor to make the two, development and environmental protection, promote each other, he noted.Li said the country should set up a people-oriented conception in environmental protection efforts, and carry out major projects regarding sewage disposal, waste processing and water environment in urban areas.Efforts would also be devoted to prevent and treat rural area's pollution problems and ensure the safety of drinking water and food, Li said.Li called for improving related laws and regulations and fully completing the government's responsibility in the environmental protection sector.

LANZHOU, Dec. 7 (Xinhua) -- Floods caused by torrential rains and tropical cyclones have left at least 3,222 people killed and 1,003 others missing across China in the first eleven months of this year, government statistics released Tuesday show."In 2010, China experienced the worst flooding casualties and damage since 1998," Water Resources Minister Chen Lei said during a national drought and flooding relief workshop held in the northwest city of Lanzhou.Further, the average accumulated rainfall across China this year has increased nearly 10 percent over levels recorded in previous years. In some areas, the figure shot up five times over that recorded in a usual year.Nearly 270 towns and cities were flooded, 437 rivers swelled with water and 111 of them broke past records, and thousands of dams faced dangers, Chen said.Floods also destroyed 2.27 million houses and damaged 17.87 million hectares of farmland, statistics show. The economic loss caused by this year's flooding has reached 374.5 billion yuan (56.74 million U.S. dollars), said officials.

BEIJING, Jan. 9 (Xinhua) -- China's Ministry of Agriculture (MOA) on Sunday stressed it would assure that there is a stable supply of farm produce amid ongoing icy weather as the nation's most important traditional festival approaches.The ministry urged local authorities, in a notice on its website, to make every effort to ensure continued agriculture production as the freezing weather threatens abundant supplies, which are critical during the Spring Festival, the annual season for family reunions.Temperatures and humidity in vegetable greenhouses and corrals should be kept at proper levels, while exposure to frigid weather by poultry and livestock should be minimized.The ministry also asked local departments to facilitate the smooth transporting to markets of fresh farm produce.Freezing weather in south China has forced the evacuation of at least 58,000 people from their homes over the past week, according to the Ministry of Civil Affairs.Southern China will experience more icy rain and snow from Sunday to Thursday, where freezing weather has hit since the New Year's Day, the National Meteorological Center reported Sunday.