Green Dragon Prevails in China License Row

摘要

London-listed Green Dragon Gas has come out on top in a coalbed methane licensing row with its Chinese partner, after four exploration permits were reissued by the Chinese government. China United Coalbed Methane Corp. (CUCBM), which is now majority owned by state China National Offshore Oil Corp., had in 2011 unilaterally announced it was ending cooperation with Green Dragon unit Greka China at four of their five production sharing contracts (PSCs) in China, claiming the exploration period had expired.