Deals
Sinopec Buys Kazakhstan Oil Assets From Lukoil for $1.09 Billion
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China Petroleum & Chemical Corp. completed the purchase of a 50 percent stake in a Kazakh oil producer from Lukoil PJSC for $1.09 billion, gaining full control of a venture with stakes in five oil and gas fields.
The sale of Caspian Investments Resources Ltd. received the required permits from the state authorities of the Kazakhstan in late July, Lukoil said in a statement Thursday. The deal concluded after more than a year of talks and the price is less than the $1.2 billion agreed on in April 2014.