Chinese Oil Major Sells U.S. Assets to Ineos ...Middle East

OILPRICE - Economy

China’s CNOOC has struck a deal to sell its business in the United States to Britain’s Ineos, the two companies reported over the weekend. The deal is worth $2 billion and includes stakes in two deep-water fields in the Gulf of Mexico, per a Reuters report citing an unnamed source. Ineos said that the acquisition would boost its global oil and gas production to over 90,000 barrels of oil equivalent daily. Neither of the companies involved named the price tag of the deal. “This is a major step for us into the deepwater Gulf of…

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Chinese Oil Major Sells U.S. Assets to Ineos ...Middle East

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