Sinopec to enter the United Kingdom 48 billion bid Addax_ vast

China petrochemical (SNP), the parent company of Sinopec to 48 billion sticker shock bid United Kingdom gas exploration company Addax Petroleum. AddaxPetroleum is headquartered in the United Kingdom London, its main mining field in the Kurdistan region of Iraq and Nigeria. Last week, the parent company of Sinopec that will participate in the bid. China petrochemical belongs to China National Petroleum Group, participate in bid for State-owned oil of Korea. Kurdistan region region there are only two mining field, which occupy a Addax. Addax considers as oil output in this area tend to be completed, the pipeline will be more and more competitive procurement. At present, China is an urgent need to intensify efforts to control the raw product in order to maintain its rapid economic growth. Sinopec is further proof of this commitment to China.