Domestic

China approves Sinopec's purchase of Colombian blocks

(Agencies)
Updated: 2010-12-21 16:24
Large Medium Small

China Petrochemical Corp, the nation's largest refiner, received State approval to buy Colombian oil and gas assets owned by Hupecol LLC, Bloomberg News reported Tuesday, citing the country's economic planner.

China Petrochemical, or Sinopec, has completed the deal, Huang Wensheng, a company spokesman, said in Beijing. Sinopec didn't make an announcement on the purchases because it's "a rather small deal", he said, without elaborating, according to the report.

Related readings:
China approves Sinopec's purchase of Colombian blocks Sinopec starts natural gas exploration in Sichuan
China approves Sinopec's purchase of Colombian blocks Sinopec goes after Argentinian assets
China approves Sinopec's purchase of Colombian blocks Sinopec to buy plant in Argentina for $2.45b
China approves Sinopec's purchase of Colombian blocks Sinopec faces challenges after takeover

In addition, China National Offshore Oil Corp also received go-ahead for its purchase of a 33.33 percent stake in the Eagle Ford shale project from Chesapeake Energy Corp, according to the National Development and Reform Commission.

The authority also issued approvals for PetroChina Co's plan to build a 3.5 million ton-a-year liquefied natural gas receiving terminal in Tangshan and China National Petroleum Corp's third gas pipeline from Shaanxi to Beijing, the report said.