Deals
Commodity Deals Show China Flexing Muscles in Trading Clout Hunt
- Sinochem may get international-markets access via Noble stake
- Potential deal in line with China’s other purchases in traders
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China’s stepping up its campaign for greater clout in global commodities trading.
The Asian nation’s state-run Sinochem Group is said to be in early talks to become a strategic investor in embattled commodities trader Noble Group Ltd. A potential deal could give the Chinese oil and chemicals behemoth access to Noble’s trading expertise and businesses around the world, from gasoline blending on the U.S. Gulf Coast to petroleum storage in Panama and fuel transport via American pipelines.