26.01.2010 - ONGC, OVL pitted against Chinese soverign funds for foreign acquisitions news
From Domain-b.com: China's large state owned enterprises, backed by the money power of the Chinese sovereign wealth funds have been making huge global investments and acquisitions in the energy and minerals sector. Armed with more than $2.4 trillion in foreign exchange reserves as of this month, China has supported its oil companies to make landmark overseas acquisitions since energy assets have fallen considerably due to the global economic downturn......................Full Article: Source