PetroChina Reported $162 Billion Liability As Oil Price Continues to Plunge

China's oil giant reported a 67% drop in profit. PetroChina reported its worst profit in 15 years which brought liability to $162 billion.

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With oil under $100, China trader books world's largest ship to store crude

A Chinese trading firm has booked the world's largest super-tanker to store crude at sea, adding to a growing flotilla of vessels used for floating storage as benchmark oil prices slip below $100 a barrel.

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Sources: Sinopec to sell 30% of its stake in retail assets, hires Goldman Sachs

The biggest refiner in Asia, Sinopec would sell 30% of its shares in its retail assets said sources familiar with the matter but asked not to be named as the talks were held private, reported Bloomberg.

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ONGC bids for 3 oil and gas blocks in Sri Lanka

ONGC Videsh Ltd, Oil and Natural Gas Corporation's overseas arm, has bid for 3 out of 13 Sri Lankan oil and gas blocks in the Mannar basin.

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Sinopec, Apache eye Kitimat investment in Canada -sources

Chinese refiner Senopec is in discussions with American oil-and-gas firm Apache Corp regarding the purchase of a minority stake in a liquefied natural-gas (LNG) project in Canada, according to sources familiar with the matter.

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Sinopec seeking to sell off shale acreage

In an unprecendented move, China's Sinopec is selling off shale gas acreages in Canada.

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Sinopec purchases 33% of Apache Corp

Sinopec, the state owned oil and gas firm, forms Apache and Sinopec Group through the purchase of 33% of the Apache Corp.

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Sinopec Acquires Marathon’s Angola Oil Fields

Sinopec Group of China agreed to buy Marathon Oil Corp's Angola offshore oil and gas field called Block 31 in a US$1.52 billion deal.

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China Q1 outbound investments at $21.4 bln -study

China's outbound investments accelerated to $21.4 billion in the first three months of 2012 after stalling last year.

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