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Chinese oil firm Sinopec buys Addax for 4.4bn

24th June, 2009

hexgear

The deal is the latest in China's efforts to secure overseas resources to reduce its reliance on domestic production and gives the country access to Iraq's oil reserves. Addax has operations in Gabon, where Sinopec has been involved in oil exploration, as well as in Nigeria and Cameroon.

Asset: OPL 291 Source: http://www.theguardian.com/bus...

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