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BEIJING, Nov. 28 (Xinhua) -- China National Offshore Oil Company Limited (CNOOC) said Sunday Bridas Corporation, a joint-venture equally-owned by CNOOC International Limited and Argentina-based Bridas Energy Holdings (BEH), will acquire a 60 percent equity interest in Pan American Energy (PAE) from BP for approximately 7.06 billion U.S. dollars.The acquisition excludes PAE's assets in Bolivia, according to a statement on the website of CNOOC, China's largest offshore oil and gas producer.CNOOC International, a wholly owned subsidiary of the company, and BEH have agreed to contribute about 4.94 billion U.S. dollars to Bridas to finance 70 percent of the proposed acquisition. The contribution will be made in equal amounts of approximately 2.47 billion U.S. dollars by CNOOC International and BEH.The remaining 30 percent, or approximately 2.12 billion U.S. dollars, will be satisfied by third party loans to be arranged by Bridas and additional contributions from CNOOC International and BEH.Completion of the acquisition is conditional on, among others factors, all necessary government and regulatory approvals, and is expected to take place in the first half of 2011.In the first half of 2010, CNOOC International and BEH completed the formation of a half-half joint venture in Bridas.

BEIJING, Nov. 23 (Xinhua) -- China said on Tuesday it would punish six companies, including affiliates of the country's two oil giants, for selling diesel above the state-set prices, in an effort to ease the diesel shortage and keep soaring prices in check.The companies, including Sinopec's units in Wuhan and Luoyang, and PetroChina's Wuhan unit, were selling diesel at prices as high as 8 percent above the government set price, according to a statement posted on the website of National Development and Reform Commission (NDRC), the country's top economic planner.These companies also included local refineries and oil dealers in Shaanxi, Shandong and Jiangsu provinces and according to the NDRC, the acts have exacerbated the diesel shortage and disrupted market order.The commission urged local authorities to seize the illicit revenue from above-ceiling sales and fine the companies up to five-times of their income.To relieve domestic diesel shortages, both Sinopec and PetroChina are increasing diesel imports, while Sinopec said last week it had even suspended diesel exports.According to customs statistics, China's diesel imports in October rose to 400,000 tonnes, surging 60 percent compared with that in September.

LUANDA, Nov. 19 (Xinhua) -- Visiting Chinese Vice President Xi Jinping said here on Friday that China regards Angola as a strategic partner for cooperation and enhancing comprehensive cooperation fits the fundamental and long-term benefit of the peoples of the two countries.Xi made the remarks when meeting with Angolan President Jose Eduardo dos Santos.The Chinese vice president said that the two countries have agreed to elevate bilateral ties up to a strategic partnership, which is of vital significance to the prospect of bilateral relations.Xi, who is here as a guest of Angolan Vice President Fernando da Piedade Dias dos Santos, told the Angolan president that China and Angola have forged profound friendship in Angola's drive to seek national independence and economic development, which has laid down a solid foundation for bilateral relationship.Chinese Vice-President Xi Jinping (L) shakes hands with Angola's President Jose Eduardo dos Santos during their meeting in Luanda, capital of Angola, Nov. 19, 2010.Xi spoke highly of the relations between China and Angola over the past 27 years, noting that mutual political trust has been enhanced and fruitful achievements have been scored in a wide range of fields for cooperation, including finance, energy and infrastructure construction.Since 2006, Angola has become China's biggest trade partner in Africa for four years in a row and Angola has also become China's second crude oil provider across the world.Xi said that his current visit is aimed to consolidate traditional friendship, enhance mutual political trust and deepen cooperation between the two sides.He said that China is willing to join hands with Angola to enhance political trust, expand cooperation and coordinate more in the international arena.On China's Africa policy, Xi said consolidating unity and cooperation with African countries are one of the vital corner stones for China's foreign policy and it is also a strategic choice that China will firmly adhere to for a long time.As this year marks the 10th anniversary of the establishment of the Forum on China-Africa Cooperation, China will join hands with African countries, including Angola, to make more progress on pushing forward the strategic partnership between China and Africa, he added.For his part, Angolan President Santos said that he believed that Xi's current visit would make bilateral ties closer and further boost bilateral cooperation.The Angola president also spoke highly of the development of bilateral ties, saying bilateral trade and economic cooperation has developed very rapidly and fruitfully.He also said China has made pro-active contribution to the world economic balance in its drive to fight global financial crisis.Angola is the third leg of Xi's four-nation trip to Asia and Africa. His first two legs are Singapore and South Africa and he is scheduled to visit Botswana after his Angolan trip.

来源：资阳报