China Eyes Repsol YPF's Argentine Unit

China's state-owned enterprises have been on a quest to snap up natural resource companies around the globe for several years now, and their shopping list keeps getting longer. So far this year, outbound Chinese oil and gas acquisitions are at an all-time high of $13.4 billion, up 22% from a year ago, says British research firm Dealogic. State-owned giant China National Petroleum Corp. (CNPC) has reached a deal with BP to boost production in the Rumaila field located in Kuwait and southern Iraq, and China Petroleum & Chemical (Sinopec) has bought oil company Addax for $7 billion.

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