“It’s a preliminary approval from the [National Development and Reform Commission], which means the government gave the principal go-ahead for the deal,” an anonymous industry source told Reuters.
The deal, in which CEFC agreed to purchase the shares from Glencore and the Qatar Investment Authority, was announced September 8. In the eyes of most analysts, it signals deepening energy co-operation between Russia and China, flying in the face of European and North American sanctions on the Russian oil giant, imposed after Russia’s annexation of Crimea from Ukraine in 2014.
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Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
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