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Stock Market & Financial Investment News

News Breaks
November 19, 2012
08:08 EDTTOT, SNP, CVX, NXYTotal sells 20% interest in OML 138 to Sinopec for $2.5B
Total (TOT) announces that it has finalized an agreement to sell its 20% contractor interest in OML 138 block to a wholly owned subsidiary of Sinopec (SNP) for approximately $2.5B in cash. The agreement is subject to approval by the Nigerian authorities. The OML 138 block contains the Usan field which started production in February 2012. The Nigerian National Petroleum Corporation is the OML 138 concession holder. Other partners include Chevron Petroleum Nigeria (CVX), Esso E&P Nigeria, and Nexen Petroleum Nigeria (NXY).
News For TOT;SNP;CVX;NXY From The Last 14 Days
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