Exxon had linked with Siniopec and Saudi Arabia's state oil company to build a 3.5-billion-dollar refinery and a network of 600 gas stations in Fujian province. It's strategy was focused on its big downstream investment in China.
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Stake For Sale. Ask For ExxonMobil
US oil and gas major Exxon Mobil Corp. plans to sell its stake..
US oil and gas major Exxon Mobil Corp. plans to sell its stake in China Petroleum & Chemical Corp., also known as Sinopec, for $1.4 billion.
Exxon bought Sinopec?s shares in 2000 to help gain access to China.
Two other huge global petroleum producers, BP Plc and Royal Dutch/Shell Group, two largest European oil companies, also sold their stakes in Sinopec last year.
Exxon had linked with Siniopec and Saudi Arabia's state oil company to build a 3.5-billion-dollar refinery and a network of 600 gas stations in Fujian province. It's strategy was focused on its big downstream investment in China.
Exxon had linked with Siniopec and Saudi Arabia's state oil company to build a 3.5-billion-dollar refinery and a network of 600 gas stations in Fujian province. It's strategy was focused on its big downstream investment in China.
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