Sinopec Group wants to sell half of its two biggest shale gas acreages in Canada to spread costs and accelerate their development, as the Chinese energy company focuses increasingly on return of investment, an executive said.
A sale of an overseas asset would be a rare move for one of China’s state-owned energy companies, which have spent hundreds of billions of dollars investing in hydrocarbon resources from North America to Australia to secure China’s energy needs.
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Chen Aizhu, Reuters via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/c5cIQVi0zvs/
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