Sinopec Rumoured To Be In The Running For Galp's Brazilian Assets

Sinopec is expected to be announced as a bidder for Galp's Brazilian acreage. The deal would make sense for the Chinese state run oil company, as it seeks to boost its upstream portfolio in order to offset growing refining losses. Other foreign oil companies may seek to follow suit as they look to raise cash in order to offset other liabilities and invest in their core businesses.

To read the full article, please choose one of the following options: