Sinopec 'Negotiating to Buy Total SA Oil Fields in Nigeria'

(Beijing) – China Petrochemical Corp. (Sinopec) is in talks with France's Total SA to buy its onshore oil fields in Nigeria, a source close to Total says.

A Sinopec spokesperson said the company had no information to release.

Sinopec, one of China's Big Three state-owned oil companies, will pay US$ 2.4 billion for the fields, Bloomberg reported.