CNPC to sign oil exploration, refining pact with UAE's ADNOC this month: sources | Reuters:
China National Petroleum Corp (CNPC) is expected to sign a preliminary agreement with Abu Dhabi National Oil Co (ADNOC) later this month to invest in oil and gas exploration and refinery projects, four sources with knowledge of the matter said.
The agreement will be signed during a high-level Chinese state visit to the United Arab Emirates during which CNPC Chairman Wang Yilin will be on the business delegation.
“It will be a preliminary and broad cooperation deal that covers upstream and downstream investment,” said one of the sources, a Beijing-based oil executive briefed on Wang’s planned trip.
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