Petrie Says Sinopec Didn't Overpay for Syncrude Stake: Video
Thomas Petrie, vice chairman of Bank of America-Merrill Lynch, talks with Bloomberg's Margaret Brennan about mergers and acquisitions in the energy industry.
Yesterday, China Petroleum & Chemical Corp., Asia’s biggest refiner known as Sinopec Group, agreed to buy ConocoPhillips’s stake in oil-sands producer Syncrude Canada Ltd. for $4.65 billion, more than analysts expected. (Source: Bloomberg)
00:00 Energy M&A activity; Sinopec's Syncrude buy 02:29 Joint ventures; ConocoPhillips's Lukoil stake
Running time 04:35