MPs: Chinese Investment In British Energy Poses “Very Real Risk To Security”

Senior parliamentarians in the UK are sounding the alarm bells over Chinese extensive involvement in North Sea oil and gas, which they say poses a serious security threat to the country.  MP Duncan Smith, chair of the Inter-Parliamentary Alliance on China (IPAC), told City A.M. that Chinese-backed investments in British energy resources pose a “very real risk to security”. China’s state-run oil giant CNOOC holds over 43% interest in the UK’s North Sea Buzzard oilfield, and over 36% interest in its Golden Eagle oilfield,…