Sinopec Goes After Oil Assets Worldwide

摘要

US$2.45b deal to gain reserves of 393m barrels of crude equivalent China's enterprises eye global expansion via mergers and acquisitions in 2010 as the country's economic power increases.China Petrochemical Corporation (Sinopec),Asia's largest oil refiner,plans to purchase the entire oil and gas assets in the Argentinean arm of US-based Occidental Petroleum Corp.(OXY) for US$2.45 billion,its first foray into the South American country's upstream oil and gas sector.