RSS feedSinopec
’Snap news
Breaking pre-market news on Friday,
- Repsol agrees to sell $7.1bn stake of Brazil unit to Sinopec – Bloomberg.
- Corporate: Tottenham Hotspurs, First Quantum Minerals, City of London Investment Group,
China and Russia lead oil deals
Oil companies from emerging economies are responsible for more than half the sector’s biggest mergers and acquisitions by value this year, according to a PwC report. Emerging economy buyers, led by Chinese and Russian companies,
Addax deal to take Sinopec into Iraq
China highlighted its ambitions to expand in the resources sector on Thursday when state-owned Sinopec – one of China’s largest oil companies – agreed to a C$8.3bn ($7.2bn) takeover of Addax, a Swiss-based oil company listed in Toronto and London with interests in Africa and Iraqi Kurdistan.
Sinopec swoops on oil explorer — or does it?
China’s resources drive continues apace, despite the resounding failure of Chinalco’s bid to acquire a big stake in Rio Tinto. According to weekend reports – initially in the Sunday Times – Chinese state-owned oil group Sinopec is stepping up its race to secure access to global oil reserves with an “audacious”
Chinese bid £5bn for UK oil explorer
Sinopec, the Chinese state oil group, has made an audacious £4.8bn bid for Addax Petroleum, a UK-listed group with fields in Iraqi Kurdistan and Nigeria, report the Times. Sinopec is understood to have tabled the indicative offer last week,
Imperial approached by China’s Sinopec
Sinopec has made an approach to Imperial Energy, the UK-listed oil and gas explorer, which could scupper a £12.90 a share, £1.3bn ($2.6bn) approach from India’s ONGC. The Chinese state-owned oil group,