To launch the largest acquisition of China's oil industry

Absrtact: PetroChina has just bought 45.5% of Singapore oil from Singapore Keppel, the world's largest offshore oil rig maker, and Sinopec has been more generous PetroChina has just bought 45.5% of Singapore's oil shares from Singapore Keppel, the world's largest offshore oil rig maker, and Sinopec has been more aggressive. Yesterday, reporters from Sinopec related sources confirmed that China Petrochemical Company (Sinopec), the parent of China Petrochemical Corporation (Sinopec Group) is in negotiations to acquire a petroleum in Iraqi Kurdistan and West African oil exploration company Addax.　　If the real outside medium refers to the 4.8 billion sterling deal, will become China's oil industry has historically the largest takeover case.　　Analysts said that for the upstream resources of Sinopec, control of foreign crude oil resources in the long term will have great value, but in the short term to inject listed companies, so the acquisition of listed companies have a significant impact on performance. Sinopec confirms that the talks are still in progress. The talks between the China Petrochemical Group (Sinopec G Roup) and the exploration company A Ddaxpetroleum, which owns oil fields in Iraq's Kurdistan and West Africa, are not unfounded, according to people familiar with the matter. It said the company was negotiating with a ddax on acquisitions to further secure its global oil reserves.　　However, according to the company process, the company operates within the confidentiality group, the end will not disclose specific information, especially the acquisition amount, is still highly confidential. Earlier, the Wall Street Journal and the Times have been reporting that A Ddax is negotiating with several companies, including Sinopec and the Korean National Oil Company (K Oreann ational O il C om pany). The Times said June 14 that Sinopec's bid for the offer was 4.8 billion pounds (USD 7.92 billion).　　As for the amount of the deal, the people said the price issue could not be reviewed in the negotiations.　　A Statement on the official website, Ddaxpetroleum, on June 8, said "It is true that there is a preliminary discussion of cooperation with a third party interested in potential transactions, but it does not mean that a deal will be reached" or a third party list that is involved in bidding. Group to make up the upstream short plate China Petrochemical Co., Ltd. Securities representative Huang said that the relevant information has been noted, but the stock company level did not hear, if there is a similar action will be announced, "the group level whether there is such action, we do not grasp the relevant situation."　　According to its introduction, the current move into overseas markets, such as mainly by the group level. China Merchants Securities petrochemical industry analyst Xiaofeng said, for Sinopec, upstream resources is its short board, the current international market despite the most difficult moment, but the level of valuation is not a specialHigh, at this time overseas mergers and acquisitions resource-oriented enterprises more appropriate. China Petrochemical (0386.HK), the company's H-Share-listed firm, closed yesterday with a fall of HK $5.70, while China Petrochemical (600028), the 3.06%,a-listed company, closed at 10.01 yuan, a small increase of 1.01%. Xiaofeng said that if the group-level acquisition, it will not be injected into the listed companies in the short term, so there is no short-term impact on the performance of listed companies. But Sinopec had previously stated that it wanted to go abroad through a joint-stock company, so it did not rule out the direct takeover of listed companies. "Chou, Ph. D., of the Chinese Academy of Sciences, who specializes in energy issues, said it would be a good time to buy at £ 4.8 billion, after all, the dollar has fallen, inflation has intensified and oil prices have risen further. But it is hard to say whether it will be possible to make a deal at this price.　　The Chinalco takeover, which fell through, dragged on for a long time from the bids to the implementation, and was still unsuccessful. Chinese companies have frequently bid for catches, and the domestic oil giants have been buying overseas. Previously, PetroChina bought 45.5% per cent of the Singapore Oil stake in Singapore Keppel, the world's largest offshore oil rig manufacturer, with a 14-700 million yuan (6.94 billion yuan) and plans to offer a full takeover offer to buy the company's remaining stake. And it is estimated that at the end of this month, PetroChina and CNOOC are also planning to bid 4 billion of billions of dollars for business focused on Africa's oil and gas company K OSM OSENERGYLLC main assets.　　It is clear that having more resources abroad can play a significant role in stabilizing domestic oil and raw materials, as well as stabilizing fluctuations in domestic oil prices. Xiaofeng said that the energy industry is frequent mergers and acquisitions, on the one hand, although the recent rise in oil prices, but still good timing.　　On the other hand, the target companies under the impact of the economic crisis, its own cash flow dilemma, there is a willingness to sell, just at this time the willingness of domestic enterprises to go out is also relatively strong. The week-King is of the view that this series of actions is more to achieve the energy market overseas resources control, abroad has a more extensive purchase channels. Due to the international energy shortage, China spends more and more on energy import, and more resources abroad have a great effect on the stability of domestic oil and raw materials, and can also stabilize the fluctuation of domestic oil price.　　The 40%-50% increase in the global market every year is the growth of the Chinese market, and in this sense the stability of the Chinese market is largely the stability of the global market. There are different opinions about the Sinopec Group's forecast of a DDAX bid. Some experts believe that Sinopec group in terms of strength and capital investment are dominant, the possibility of a larger deal. But Chou said China had been catches in overseas acquisitions in recent years, and many companies were taking precautions against China when considering the sale, saying that Chinese companies were controlled by the government rather than market behaviour andTherefore, there are some political or strategic precautions for China to purchase foreign resource enterprises. Small Data Addaxpetroleum is an international crude oil and gas exploration company established in 1994, with major operations in Africa and the Middle East, with production bases in Nigeria and Gabon and with exploration permits in the Kurdish areas of West Africa and Iraq.　　It is one of West Africa's largest independent oil producers, listed in Toronto and London, with a market value of about $2.9 billion trillion. Newspaper reporter Wang Haiyan intern Wumong