China’s CNOOC Will Ramp Up Deepwater Oil Drilling as BP’s Oil Spill Kills U.S. Exploration

China’s CNOOC. Ltd. (NYSE ADR: CEO ) will step up its long-term deepwater oil exploration plans with a close eye on safety measures in the wake of the BP PLC (NYSE ADR: BP) Gulf oil spill that has halted U.S. deepwater drilling.…