Chinese firms invited to bid for Greek oil

Greece has invited Chinese firms to bid in a tender for deep-sea oil and gas exploration later this year after Athens extended the bidding process in March.

Greece, which depends on financial aid from the EU and IMF to stay afloat, has made several fruitless attempts over the past 50 years to find big oil and gas reserves.

The debt crisis then prompted the country to step up these efforts to boost revenue.