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Chinese oil giant takes over Swiss firm

Category :International Sub Category :Asia
2009-08-18 00:00:00
   Views : 96

Beijing, Aug 18 (Xinhua) China's largest oil refinery Sinopec has taken over the Geneva-based oil and gas producer Addax Petroleum Corp., company officials said Tuesday.

Sinopec purchased the Swiss oil company for around $7.5 billion.

The deal is the largest overseas takeover by a Chinese oil company.

Addax is an international oil and gas exploration and production company focused on Africa and the Middle East.


Author :Xinhua



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