Home | Business News | Browse by Publication | T | The Oil Daily

Marathon sells Angola stake to Chinese duo.

Publication: The Oil Daily
Publication Date: 20-JUL-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Marathon sells Angola stake to Chinese duo.(acquisation by China National Offshore Oil Corp. and China Petroleum and Chemical Corp.)(Marathon Oil Co.)

Article Excerpt
Marathon Oil has agreed to divest a portion of its holding in Angola offshore Block 32 to a Chinese consortium nearly a year after initial negotiations fell apart (OD Sep.4,p6).

Chinese giants CNOOC and Sinopec are looking to secure a joint 20% interest in the promising deepwater block for $1.3 billion. The transaction is likely to close by the end of the year unless one of the US firm's Block 32 partners exercises its right of first refusal.

CNOOC and Sinopec had initially expressed...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from The Oil Daily
Argentina rations winter gas supplies., July 20, 2009
BP prunes renewables portfolio, exiting biodiesel joint venture.(Briti..., July 20, 2009
CNPC inks Costa Rica deal.(China National Petroleum Corp. signed a dea..., July 20, 2009
Revival of 'green shoots' talk gives crude futures a boost.(Statistica..., July 20, 2009
Daily oil & gas price review.(Statistical table), July 20, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.