Chinese main oil refiner takes over 30% of Portugal’s GALP in Brazil

Friday, November 11th 2011 - 08:20 UTC

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China Petrochemical Corp., Asia's biggest refiner, agreed on Thursday to pay 3.54 billion dollars for a 30% stake in Galp Energia SGPS SA's Brazilian unit, in what is China's largest overseas energy acquisition this year. Read full article

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GeoffWard2
So, from now on Lula is being pumped by the Chinese, but there are limits on how much can be extracted by them. Most of Lula's fluids and gases will be extracted by the Brasilians themselves.
Nov 11th, 2011 - 11:52 pm - Link - Report abuse 0
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