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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

China CNPC, Sinopec in joint bid for Peru`s Petro-Tech

Posted on 19 August 2008

From Reuters.com: China’s CNPC and Sinopec Group have put in a rare joint bid of between $1.5 billion and $2.5 billion for Petro-Tech Peruana, a private firm with oil and gas assets in Peru, a Beijing-based industry official said on Tuesday.

…Increasingly, there is more coordination among Beijing’s oil trio – CNPC, Sinopec and offshore specialist CNOOC Ltd – to avoid clashes in competing for the same targets… Full article: Source


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