Sinopec Said to Buy Nigerian Blocks From Total for $2.4 Billion

Sinopec Said to Buy Nigerian Blocks From Total for $2.4 Billion

Jerome Favre/Bloomberg

Sinopec’s reserves of crude oil declined from 3.3 billion barrels in 2007 to 2.8 billion barrels at the end of last year, enough for nine years of production at 2011 levels, according to data compiled by Bloomberg.