July 09, 2009

China Bids on Argentina's Oil Industry

Two Chinese oil majors, China National Petroleum Corp. (CNCP) and China National Offshore Oil Corp. (CNOOC) may gang up to enhance a multi-billion (US) dollar offer for the Argentina assets of the Spanish Repsol energy company. CNCP has offered $14.5 billion for the assets that include exploration and production rights to all oil & gas blocks in Argentina, the country's major oil refinery, and around 1,600 petrol stations.....

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