Japan Energy to export oil to China

Despite Sino-Japanese political tensions, Japan Energy Corp has signed a US$58m contract to export gas and oil to Chinaoil, a unit of PetroChina, the country's largest oil and gas producer, state media reported, citing documents. Japan Energy will supply about 880,000 barrels of low-sulfur oil to Chinaoil until the end of March 2006, processing about 30,000 bpd of crude oil and supply gas, oil and fuel oil.