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China’s Sinopec buys Kazakh oil assets from Russia’s Lukoil

by ChemOrbis Editorial Team -
  • 21/08/2015 (14:33)
According to a statement made by Russia’s Lukoil, China’s state-owned Sinopec has bought a 50% share of a Kazakh oil producer from Lukoil PJSC. The transaction will cost around $1.09 billion and will allow Sinopec to have full control of a venture with shares in five oil and gas fields.

The discussions for the deal had begun in April 2014 with an initial transaction bid of $1.2 billion.
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