Oil Investing News » Sinopec Group has agreed to purchase Addax for $7.3 bln

Sinopec Group has agreed to purchase Addax for $7.3 bln

June 24, 2009 @ 3:50 am In Oil Company News

China Petrochemical Corp., the country's second-biggest oil company, agreed to purchase Swiss explorer Addax Petroleum for $7.3 billion in cash to tap oil reserves in Iraq's Kurdish region and Africa.

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