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2012 November 2   16:12

Sinopec plans to buy French oil explorer

Sinopec, the nation's biggest refiner, is reported to be interested in buying French oil explorer Etablissements Maurel & Prom for around $2bn, SinoShipNews reports.

Purchasing Maurel would allow Sinopec to boost oil output in African countries including Gabon, while avoiding the regulatory hurdles that have hindered Chinese deals in the US and Canada.

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