The Anglo-Dutch group ROYAL DUTCH SHELL will buy 20% of the newly issued shares in the Chinese oil group CNOOC - CHINA NATIONAL OFFSHORE OIL CORPORATION, in the framework for the stock market floatation, for a maximum amount of USD 300 million. SHELL also signed an strategic alliance agreement with CNOOC to "jointly develop production and exploration opportunities for oil and gas as well as marketing in the gas sector".