Sinopec in discussions over stake sale in Galp Energia

Chinese state oil refiner China Petrochemical Corp., more commonly known as Sinopec Group, is negotiating with Galp Energia for the acquisition of up to 40% in the Portuguese oil and gas group. According to a report from Bloomberg, Galp is also in discussions with another potential buyer for the stake sale, which could amount to €2 billion (US$2.7 billion). (November 2, 2011)