Domestic

China approves Sinopec's purchase of Colombian blocks

(Agencies)
Updated: 2010-12-21 16:24

China Petrochemical Corp, the nation's largest refiner, received State approval to buy Colombian oil and gas assets owned by Hupecol LLC, Bloomberg News?reported Tuesday,?citing?the country's economic planner.

China Petrochemical, or Sinopec, has completed the deal, Huang Wensheng, a company spokesman, said?in Beijing. Sinopec didn't make an announcement on the purchases because it's "a rather small deal", he said, without elaborating, according to the report.

Related readings:  Sinopec starts natural gas exploration in Sichuan  Sinopec goes after Argentinian assets  Sinopec to buy plant in Argentina for $2.45b  Sinopec faces challenges after takeover

In addition, China National Offshore Oil Corp also?received go-ahead for its purchase of a 33.33 percent stake in the Eagle Ford shale project from Chesapeake Energy Corp, according to the National Development and Reform Commission.

The authority also issued approvals for PetroChina Co's plan to build a 3.5 million ton-a-year liquefied natural gas receiving terminal in Tangshan and China National Petroleum Corp's third gas pipeline from Shaanxi to Beijing, the report said.