CNPC buys 35% stake in Shell subsidiary

20 May 2010

China National Petroleum Corp has signed an agreement with Shell for the acquisition of a 35% stake in Syria Shell Petroleum Development, a unit of Royal Dutch Shell, Xinhua has reported. SSPD has interests in three production licenses, Deir-Ez-Zor, Fourth Annex and Ash Sham, that are operated by the Al Furat Petroleum Co, in which Shell has an interest of 31.25%, CNPC said.

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