Reported about 1 month ago
Chinese state-owned company Sinochem plans to sell its 40% stake in a U.S. shale venture with Exxon Mobil, valued at over $2 billion. They have engaged Barclays to assist in the sale, but talks are in early stages, and the deal is not guaranteed. This move could mark the end of Sinochem's 11-year presence in the Permian Basin, a key area for U.S. oil production.
Source: YAHOO