By Ragnhildur Sigurdardottir and Mikael Holter (Bloomberg) — Iceland’s hope of finding oil offshore its coast is fading after China and Norway decided to back out of the island nation’s only remaining exploration license. Cnooc Ltd., China’s state-controlled producer, and Petoro AS, Norway’s state-owned oil company, decided to relinquish their interest in the license, Iceland’s […]

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