Chinese Oil Giant CNPC Eyes BP’s $1.5 Billion Stake in Oman Gas Field
- CNPC is having advanced discussions with BP for the asset
- Sale of BP’s 10% in Khazzan field may fetch about $1.5 billion
BP’s Khazzan field in Oman.
Source: BP Plc
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China National Petroleum Corp. is in talks to acquire part of BP Plc’s stake in a key gas field in Oman, according to people familiar with the matter.
China’s state-owned oil giant is having advanced discussions with BP for a 10% stake in the Khazzan natural gas field, the people said. The minority stake could fetch about $1.5 billion, said the people, asking not to be identified as the matter is private.