Angola has blocked Marathon Oil's planned sale of a 20% stake in an offshore oil block to Chinese state-owned firms China National Offshore Oil Corp. and Sinopec. The two Chinese companies announced on Jul. 17 that they had agreed to pay $1.3 billion for the stake (IOD Jul.20,p1). "We're going to decide to exercise the right of first refusal. It's formalized already," Manuel Vicente, the head of Angola's stateowned oil company Sonangol, told Reuters on Thursday.
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