Sinopec’s U.S. Shale Deal Struck at Two-Thirds’ Discount

Sinopec’s U.S. Shale Deal Struck at Two-Thirds’ Discount

Tomohiro Ohsumi/Bloomberg

The China Petroleum & Chemical Corp. (Sinopec) headquarters stands in Beijing. Sinopec Chairman Fu Chengyu said in May his company had held talks with Chesapeake and others about investing in shale assets.