China helps Nepal look for oil, vying with India for influence in Himalayan nation


Source: finance.yahoo.com finance.yahoo.com

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China is helping Nepal look for oil as Beijing seeks to strengthen bilateral ties and competes with India for influence with the Himalayan neighbour. A team of about 20 Chinese engineers and 45 Nepali technicians began a six-month drilling campaign in Dailekh, Nepal earlier this month, according to the Nepali-language newspaper Kantipur. Financed by the Chinese government, which also provided technical help, the campaign is part of an agreement between China and Nepal signed in 2007. Drilling is expected to reach as deep as 4km (2.5 miles) below ground to determine oil and gas reserves. Do you have questions about...