Why China's Oil Producers Love Latin America

Money Morning submits: By Kerri Shannon Chinese state oil company China Petroleum & Chemical Corp. (Sinopec) (SNP) said Friday that it would invest $7.1 billion in the Brazilian unit of Spain's Repsol YPF S.A. (REP) to form one of the largest private energy companies in Latin America.

Repsol SA’s effort to sell a liquefied natural gas business for about $2.7-billion has bogged down over its unsuccessful 25-year commitments to ship gas into Canada, two people familiar with the matter said.

BEIJING/HONG KONG (Reuters) - China Petrochemical Corp, parent of Sinopec Corp , agreed to buy all of U.S.-based Occidental Petroleum Corp's oil and gas assets in Argentina for $2.45 billion, marking...

The document also briefs Harper on Sinopec’s proposed $1.5-billion acquisition 49% of the U.K. assets of Calgary- based Talisman Energy Inc. Sinopec doesn’t require Canada’s approval to complete the deal Cnooc Ltd.’s US$15.1-billion takeover of Nexen Inc. would give the Chinese company the largest stake of an oil field in the North Sea that “has increasingly influenced” global oil prices, according to a memo sent to Prime Minister Stephen Harper by Canada’s top government worker.

Sunshine Oilsands Ltd., the first Canadian oil-sands operator to list shares on the Hong Kong exchange, is in “advanced” talks with joint-venture partners to boost production to a potential 1 million barrels a day. Sunshine, whose shares slumped 47 percent to the lowest close yesterday since its Hong Kong trading debut last February, is in conversations with “more than two and less than 10” investors, Chief Executive Officer John Zahary said in an interview.

Chinese refiner Sinopec and Spanish oil major Repsol have agreed to form a $17.8bn joint venture to exploit Repsol’s Brazilian oil deposits in a deal that will create one of the largest private energy companies in Latin America

ByUlfberht Capital:Occidental Petroleum (OXY) is a large U.S. oil and gas production/exploration company with a relatively small chlor-alkali chemicals business that accounts for about 7% of earnings. Occidental's oil and gas business operates in three regions; the US accounting for 63% of revenues, Middle East/North Africa accounting for 33% of revenues, and Latin America accounting for 4% of revenues.

ByTiming Best Buy: Introduction