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Commodities Briefing - Categorized | Oil, Trading more

China’s hydrocarbon buying spree hits $19 bln

Posted on 03 September 2013

Sinopec is buying up assets around the world, racking up over $22 billion in oil and gas asset deals since 2010 in the UK, US, Canada, Brazil, Argentina, Australia and Egypt. Recently, Sinopec said it would purchase a 10% stake in Marathon Oil Corp’s oil and gas field in Angola for $1.5 billion—it’s second purchase in this field in the past two years. It also scooped up stakes in five US shale venues this year.
One of its biggest deals was its purchase of a stake in Portugal’s Gal Energija Brazil holdings for $5.19 billion in November 2012………………………………………..Full Article: Source


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