Sinopec splashes US$1.5bn to enter UK North Sea energy market

China’s leading energy player Sinopec inked an agreement with Canada’s Talisman to buy a 49% share of Talisman’s UK branch, and is awaiting approval of the relevant authorities.

It is a debut entry for Sinopec into the North Sea energy market and the project is a good opportunity for Sinopec to enter this market under the current financial crisis and capital shortage, an official from Sinopec said.[24/07/12]

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