China’s CNPC still looking overseas

From China Daily (H/T Rigzone):

Currently, the company is in talks with foreign partners for several deals, said a company executive yesterday, who asked not to be named.

“The relatively low prices of overseas assets this year have offered us unprecedented opportunities,” he said, without elaborating.

Meanwhile Bloomberg is reporting that China will ‘will boost spending on oil and mining acquisitions by at least half this year, although this is contingent on it purchasing  Repsol YPF’s Argentine unit — on which subject CNPC (and the source in China Daily) are staying quiet.

Related links:

The mystery of China’s disappearing oil link (FTAlphaville, 11/08/09)

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