Sinopec to buy into Repsol projects for £4.5bn

first_imgFriday 1 October 2010 9:54 am Show Comments ▼ Sinopec to buy into Repsol projects for £4.5bn Tags: NULL Chinese oil giant Sinopec has agreed to pay $7.1bn (£4.5bn) for a 40 per cent stake in the Brazilian energy projects of Repsol.It means that the subsidiary – Repsol Brasil – now has enough money to develop its major offshore assets in the Guara and Carioca basins, near Rio de Janeiro and Sao Paulo.However, the Spanish company will keep a 60 per cent controlling stake .Repsol’s chairman, Antonio Brufau said: “We are very pleased to share the development of Repsol’s Brazilian projects with an internationally renowned and experienced partner as is Sinopec.” Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp whatsapp John Dunne last_img

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