(Reuters) – China’s Sinopec Corp (0386.HK) and U.S.-listed Weatherford International (WFT.N) are in advanced talks about forming a joint oilfield service company, as the world’s top energy consumer seeks overseas expertise to help unlock its vast shale resources, said people with direct knowledge of the matter.
The proposed joint venture would likely be the largest of its kind in China, aiming to marry Weatherford’s technological know-how with the Chinese oil major’s (600028.SS) potential to grow in a nascent shale oil and gas sector.
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Chen Aizhu, Reuters via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/TOTAx39ikOU/
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