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China Petroleum Expects More Deals From Parent After $3B JV Deal
Mar. 25, 2013 06:18PM PST
Oil and Gas Investing
Bloomberg reported that Asia’s biggest refiner, China Petroleum & Chemical Corp., is seeking more asset deals from parent company after its $3B joint venture deal to replace reserves with Kazakhstan, Russia, and Columbia oilfields.
Bloomberg reported that Asia’s biggest refiner, China Petroleum & Chemical Corp., is seeking more asset deals from parent company after its $3B joint venture deal to replace reserves with Kazakhstan, Russia, and Columbia oilfields.
As quoted in the market news:
Sinopec stock rose 2.7 percent, the most since Jan. 2, to close at HK$8.99 in Hong Kong yesterday after the Beijing-based company announced the 50-50 venture with its state-owned parent China Petrochemical Corp. It also posted full-year earnings that beat analyst estimates.