Sinopec to buy Repsol’s Ecuador oil operations stake

摘要

London—Spain’s Repsol plans to sell a 20% stake in its upstream operations in Ecuador to China’s Sinopec in a move set to dilute the Spanish major’s control in two producing oil blocks, Repsol said August 1. Under the deal, the government of Ecuador has approved the sale of Repsol’s wholly owned local subsidiary Amodaimi Oil to Tiptop Energy, a unit of Sinopec, Repsol said in a statement.