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| David Nealis President of Ceres Ltd. |
Sinopec’s
US$ 3.1 billion investment into Egypt
Bloomberg
reported on August 30th that Asia's largest refiner, China
Petrochemical Group (Sinopec), has agreed to pay US$ 3.1 billion for a
one-third stake in the Egyptian oil and gas assets of US firm Apache Corp.
According to a company statement, the deal, which is still subject to
regulatory approval, marks Sinopec’s first entry into Egypt’s upstream oil and
gas sector. The deal is Sinopec's largest purchase in the Middle East. Apache
and Sinopec Group will also form a global partnership to develop oil and gas projects
which will be operated by Apache Corp.
China, the world’s 2nd
largest economy, continues to be the most important market for companies
looking for growth and Chinese companies continue to globalize by investing and
selling their products in new markets; what is your company’s strategy for engaging China?
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Trading futures and options involves the risk of loss. You should consider carefully whether futures or options are appropriate to your financial situation. You must review the customer account agreement and risk disclosure prior to establishing an account. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of futures results. The risk of loss in trading futures or options can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
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