Latest News:  
Beijing   Sunny    28 / 14   City Forecast

People's Daily Online>>China Business

Sinopec in talks with Spanish peer

(Global Times)

08:27, April 18, 2012

China Petrochemical Corp (Sinopec Group) is in talks with Repsol-YPF, Spain's largest oil company, to buy out the latter's stake in Argentinean oil unit, YPF, a source close to the deal disclosed Tuesday.

The two sides have already reached a $15 billion non-binding purchase agreement, the source added.

YPF is now 57.4 percent owned by Repsol-YPF. Sinopec's purchase of this stake has got approval from Repsol's board of directors. However, the governments of Spain and Argentina need to give their nods as well.


Leave your comment0 comments

  1. Name


Selections for you

  1. DPRK says not to follow deal with U.S.

  2. Celebration held to mark centennial of Kim Il Sung's birth

  3. Training of beautiful Russian ballet dancers

  4. Taliban begin spring offensive in Afghan cities

Most Popular


  1. Blasts spell bleak future for Afghan stability
  2. Security cooperation is SCO's shining point
  3. Syria ceasefire is not negotiable
  4. Freedom of speech does not protect rumors
  5. China's state-owned firms not 'non-market' entity
  6. China should be patient during peaceful rise
  7. Respond calmly to 'China threat theory'
  8. Why are Chinese goods more cheap abroad?
  9. Hold mainstream of China-ASEAN relations
  10. Asia-Pacific countries should promote free trade

What's happening in China

Serious drought dries up river in C China

  1. Wuhan poised to be China's first 'City of Reading'
  2. Large Jurassic dinosaur fossil found in Xinjiang
  3. School principle fired over food poisoning
  4. Gov't calls for stricter monitoring of cold medicine
  5. Probe launched into pill makers' practices

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai