| Repsol/China: The Chinese are pushing the envelope on oil. In Iraq, China’s Sinopec last month agreed to pay top dollar for Addax Petroleum, a big player in Iraqi Kurdistan. Then CNPC, along with oil major BP, capitulated to Iraq's tough terms to secure the only contract in an eight-field auction. Now, two of China’s biggest oil firms, CNPC and CNOOC, are reportedly discussing a possible deal to buy Repsol’s assets in Argentina for $17 billion. |
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