Eni Signs MOU With Sinopec as It Seeks Expansion in Far East
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Eni SpA, Italy’s biggest oil company, confirmed an Ansa newsire report that it has signed a memorandum of understanding with China Petroleum & Chemical Corp, Asia’s largest oil refiner known as Sinopec.
The Rome-based company is interested in shale gas opportunities in China, while Sinopec is seeking to grow in areas like Africa with Eni’s help, Chief Executive Officer Paolo Scaroni told Ansa in an interview in Beijing. The newswire reported that the details of the deal will be made known in the next few days.