Two of China’s biggest oil groups have approached Repsol YPF, the Spanish oil company, over possible asset purchases and joint ventures worth billions of dollars. Repsol is discussing a possible sale of its 75% stake in YPF, the Argentine company that accounts for two-thirds of the Spanish group’s oil production, to CNPC, parent of listed PetroChina, in a deal that could value YPF at $17bn.

This entry was posted by Gwen Robinson on Friday, July 3rd, 2009 at 5:12 and is filed under Capital markets, Commodities, M&A. Tagged with CNPC. Edit this entry.