{"id":41261,"date":"2009-06-24T19:04:18","date_gmt":"2009-06-25T02:04:18","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/"},"modified":"2009-06-24T19:04:18","modified_gmt":"2009-06-25T02:04:18","slug":"china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/","title":{"rendered":"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.nytimes.com\/2009\/06\/25\/business\/global\/25oil.html?_r=1&#038;ref=global-home\">New York Times reports<\/a>:<\/p>\n<blockquote><p>\nThe giant Chinese oil company Sinopec has made a $7.22 billion takeover bid for the international oil and gas exploration company Addax Petroleum, the companies announced Wednesday.<\/p>\n<p>The takeover would give Sinopec access to Addax\u2019s stakes in oil fields off the coast of West Africa, as well as in Iraq. Sinopec already has interests in Gabon as well as Sudan. Its parent, Sinopec Group, is wholly owned by the Chinese government.<\/p>\n<p>Sinopec, formally known as China Petroleum and Chemical Corp., is offering 52.80 Canadian dollars, or $46.12, per share for the remaining common shares of Addax. The Addax board has recommended that shareholders accept the agreement, and senior executives have signed onto a lock-up agreement to sell Sinopec their 38 percent stake in the company. <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The New York Times reports: The giant Chinese oil company Sinopec has made a $7.22 billion takeover bid for the international oil and gas exploration company Addax Petroleum, the companies announced Wednesday. The takeover would give Sinopec access to Addax\u2019s stakes in oil fields off the coast of West Africa, as well as in Iraq. [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2],"tags":[5871,6055,2321],"class_list":["post-41261","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","tag-africa-oil","tag-foreign-oil-dependence","tag-sinopec","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China\u2019s Sinopec Offers $7.22 Billion for Oil Firm<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2009\/06\/china\u2019s-sinopec-offers-722-billion-for-oil-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm\" \/>\n<meta property=\"og:description\" content=\"The New York Times reports: The giant Chinese oil company Sinopec has made a $7.22 billion takeover bid for the international oil and gas exploration company Addax Petroleum, the companies announced Wednesday. The takeover would give Sinopec access to Addax\u2019s stakes in oil fields off the coast of West Africa, as well as in Iraq. [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2009\/06\/china\u2019s-sinopec-offers-722-billion-for-oil-firm\/\" \/>\n<meta property=\"og:site_name\" content=\"China Digital Times (CDT)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ChinaDigitalTimes\" \/>\n<meta property=\"article:published_time\" content=\"2009-06-25T02:04:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"186\" \/>\n\t<meta property=\"og:image:height\" content=\"177\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sophie Beach\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cdt\" \/>\n<meta name=\"twitter:site\" content=\"@cdt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sophie Beach\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/\"},\"author\":{\"name\":\"Sophie Beach\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/7f19e31b674d57a7dc20aab8e908c663\"},\"headline\":\"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm\",\"datePublished\":\"2009-06-25T02:04:18+00:00\",\"dateModified\":\"2009-06-25T02:04:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/\"},\"wordCount\":135,\"publisher\":{\"@id\":\"https:\/\/chinadigitaltimes.net\/#organization\"},\"keywords\":[\"Africa oil\",\"foreign oil dependence\",\"sinopec\"],\"articleSection\":[\"China &amp; the World\",\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/\",\"url\":\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/\",\"name\":\"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm\",\"isPartOf\":{\"@id\":\"https:\/\/chinadigitaltimes.net\/#website\"},\"datePublished\":\"2009-06-25T02:04:18+00:00\",\"dateModified\":\"2009-06-25T02:04:18+00:00\",\"breadcrumb\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/chinadigitaltimes.net\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#website\",\"url\":\"https:\/\/chinadigitaltimes.net\/\",\"name\":\"China Digital Times (CDT)\",\"description\":\"Covering China from Cyberspace\",\"publisher\":{\"@id\":\"https:\/\/chinadigitaltimes.net\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/chinadigitaltimes.net\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#organization\",\"name\":\"China Digital Times\",\"url\":\"https:\/\/chinadigitaltimes.net\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.jpg\",\"contentUrl\":\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.jpg\",\"width\":186,\"height\":177,\"caption\":\"China Digital Times\"},\"image\":{\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/ChinaDigitalTimes\",\"https:\/\/x.com\/cdt\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/7f19e31b674d57a7dc20aab8e908c663\",\"name\":\"Sophie Beach\",\"description\":\"Sophie Beach is CDT's Operations and Communications Manager. From 2003-2021, she served as Executive Editor of CDT English. She lives in Berkeley, California.\",\"sameAs\":[\"http:\/\/chinadigitaltimes.net\"],\"url\":\"https:\/\/chinadigitaltimes.net\/author\/sophie-beach\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/chinadigitaltimes.net\/2009\/06\/china\u2019s-sinopec-offers-722-billion-for-oil-firm\/","og_locale":"en_US","og_type":"article","og_title":"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm","og_description":"The New York Times reports: The giant Chinese oil company Sinopec has made a $7.22 billion takeover bid for the international oil and gas exploration company Addax Petroleum, the companies announced Wednesday. The takeover would give Sinopec access to Addax\u2019s stakes in oil fields off the coast of West Africa, as well as in Iraq. [&hellip;]","og_url":"http:\/\/chinadigitaltimes.net\/2009\/06\/china\u2019s-sinopec-offers-722-billion-for-oil-firm\/","og_site_name":"China Digital Times (CDT)","article_publisher":"https:\/\/www.facebook.com\/ChinaDigitalTimes","article_published_time":"2009-06-25T02:04:18+00:00","og_image":[{"width":186,"height":177,"url":"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.png","type":"image\/png"}],"author":"Sophie Beach","twitter_card":"summary_large_image","twitter_creator":"@cdt","twitter_site":"@cdt","twitter_misc":{"Written by":"Sophie Beach","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/#article","isPartOf":{"@id":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/"},"author":{"name":"Sophie Beach","@id":"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/7f19e31b674d57a7dc20aab8e908c663"},"headline":"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm","datePublished":"2009-06-25T02:04:18+00:00","dateModified":"2009-06-25T02:04:18+00:00","mainEntityOfPage":{"@id":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/"},"wordCount":135,"publisher":{"@id":"https:\/\/chinadigitaltimes.net\/#organization"},"keywords":["Africa oil","foreign oil dependence","sinopec"],"articleSection":["China &amp; the World","Economy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/","url":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/","name":"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm","isPartOf":{"@id":"https:\/\/chinadigitaltimes.net\/#website"},"datePublished":"2009-06-25T02:04:18+00:00","dateModified":"2009-06-25T02:04:18+00:00","breadcrumb":{"@id":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/"]}]},{"@type":"BreadcrumbList","@id":"http:\/\/chinadigitaltimes.net\/2009\/06\/china%e2%80%99s-sinopec-offers-722-billion-for-oil-firm\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/chinadigitaltimes.net\/"},{"@type":"ListItem","position":2,"name":"China\u2019s Sinopec Offers $7.22 Billion for Oil Firm"}]},{"@type":"WebSite","@id":"https:\/\/chinadigitaltimes.net\/#website","url":"https:\/\/chinadigitaltimes.net\/","name":"China Digital Times (CDT)","description":"Covering China from Cyberspace","publisher":{"@id":"https:\/\/chinadigitaltimes.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/chinadigitaltimes.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/chinadigitaltimes.net\/#organization","name":"China Digital Times","url":"https:\/\/chinadigitaltimes.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/chinadigitaltimes.net\/#\/schema\/logo\/image\/","url":"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.jpg","contentUrl":"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.jpg","width":186,"height":177,"caption":"China Digital Times"},"image":{"@id":"https:\/\/chinadigitaltimes.net\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ChinaDigitalTimes","https:\/\/x.com\/cdt"]},{"@type":"Person","@id":"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/7f19e31b674d57a7dc20aab8e908c663","name":"Sophie Beach","description":"Sophie Beach is CDT's Operations and Communications Manager. From 2003-2021, she served as Executive Editor of CDT English. She lives in Berkeley, California.","sameAs":["http:\/\/chinadigitaltimes.net"],"url":"https:\/\/chinadigitaltimes.net\/author\/sophie-beach\/"}]}},"_links":{"self":[{"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/posts\/41261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/comments?post=41261"}],"version-history":[{"count":0,"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/posts\/41261\/revisions"}],"wp:attachment":[{"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/media?parent=41261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/categories?post=41261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chinadigitaltimes.net\/wp-json\/wp\/v2\/tags?post=41261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}