Sinopec, the Chinese oil and gas group, and Spain’s Repsol plan to extend their partnership to new areas following Sinopec’s $7.1bn purchase of a minority stake in Repsol Brazil.
“The successful co-operation between Sinopec and Repsol reflects the shared desire of both companies to start a long-term and extensive partnership,” Su Shulin, Sinopec chairman, said in statement on Tuesday
Mr Su met Antonio Brufau, his Repsol counterpart, in Madrid on Tuesday at the start of a European tour by Li Keqiang, the Chinese vice-premier?who?is expected to become premier two years from now.
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