Chinese secure foreign oil in $100B buying spree

Chinese secure foreign oil in $100B buying spree
Luanda, Angola (UPI) Jun 26, 2013 - State-owned Chinese oil companies have paid $1.5 billion for a stake in an Angolan oil field and bought a $4.2 billion share in an offshore Mozambique gas field in recent weeks, part of a global spending binge by Beijing to secure foreign oil resources. Industry monitors estimate Chinese companies like the China National Offshore Oil Co. and Sinopec have spent about $100 billion since t ... morehttp://www.energy-daily.com/reports/Chinese_secure_foreign_oil_in_100B_buying_spree_999.html