Shanghai-listed Yantai Xinchao to buy US oilfields for $1.3b

Shanghai-listed Yantai Xinchao to buy US oilfields for $1.3b

China’s Yantai Xinchao Industry Co Ltd has agreed to spend about 8.3 billion yuan ($1.31 billion) to buy oilfields in the U.S. state of Texas, the company said in a corporate filing late on Saturday.

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