Financial Markets
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks

 Search News  Or
Sinopec completes stake purchase of Galp's Brazilian unit

Mar. 30, 2012 (China Knowledge) - Sinopec Group, the parent co of Sinopec<600028><0386>, Asia's largest oil refiner, announced yesterday that it has completed the acquisition of a 30% stake in the Brazilian unit of Galp Energia SGPS SA for US$5.16 billion.

The Chinese oil giant said in a statement that the transaction will give the company an additional daily output of 21,300 barrels of oil equivalent in 2015 and 112,500 BOE in 2024.

The deal was made through Sinopec International Exploration and Production Corp, a fully-owned subsidiary of Sinopec Group.

The takeover is expected to further expand Sinopec's overseas oil and gas business. In 2011, the group's crude oil output reached 321.73 million barrels, of which not more than 6% were from overseas projects.

Add this     
Copyright © "2015"

Send feedback or comments to:

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services


 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved