China is the world’s second-biggest oil consumer after the United States. Cash-rich companies such as China National Petroleum Corp — parent of the country’s dominant oil producer, PetroChina — and CNOOC have put several foreign oil and gas producers on their radar screens, sources familiar with the situation have said.
Big oil deals: Chinese firms have enough cash to win over rivals worth $10 billion, enough to buy a company such as Woodside Petroleum Ltd. , Australia’s largest listed oil-and-gas firm, and Unocal Corp. and Devon Energy Corp. of the United States, sources have said.
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