China’s Sinopec has offered C$2.2bn (US$2.1bn) to buy Canadian oil and gas firm Daylight Energy, the latest in a series of acquisitions by Chinese oil companies hungry for assets in North America.
China is the world’s second-biggest crude oil consumer after the US, and China’s state-owned oil and gas companies are among the world’s most active in global oil deals.
Sinopec is offering C$10.08 per share for Daylight, a junior oil and gas exploration company with large acreage in Western Canada that is only partially developed.
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