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Article: The Daily Oklahoman Question and Answer column.
- Article from:
- Daily Oklahoman (Oklahoma City, OK)
- Article date:
- June 24, 2005
CopyrightCOPYRIGHT 2005 The Daily Oklahoman. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Adam Wilmoth
Jun. 24--Questions and answers with David L. May.
QUESTION: If China does buy Unocal, do you think the company's oil production will be diverted to China?
ANSWER: Most of the company's current production is from Asia and the Caspian Sea and already sold in that area. Since Unocal has no refining or marketing operations, its best strategy should be to sell crude oil to its highest-margin buyer, likely Japan or China, not the U.S., anyway.
Q: What would that mean for world oil supplies?
A: If China spends more exploration and production dollars on developing Unocal's current reserve base, as it says it will, ...