Tag: TOT

• Wednesday, January 4th 2012 - 06:09 UTC

  China’s Sinopec buys stake in five shale projects in the US

  

  Devon Energy Corp announced Tuesday the sale to China’s Sinopec of a one-third stake in five shale projects in the United States. The terms of the deal call for China’s No. 2 oil company to pay 900 million dollars in cash to the US firm and contribute 1.6 billion toward the cost of drilling.