Abu Dhabi National Oil Co : Chinatopix

Abu Dhabi National Oil Co

Pipelines are seen at the TOTAL oil refinery on January 10, 2007 in Leuna, Germany.

China's CEFC, CNPC Grab 12% Stake in Abu Dhabi Oil Deal

Feb 21, 2017 05:30 AM EST

Shanghai-based CEFC China Energy Co. snatched the last 4 percent stake for the onshore venture, Abu Dhabi National Oil Co. (ADNOC) confirmed on Monday. CEFC will be paying an $888 million signing bonus. China National Petroleum Corp. (CNPC) was also awarded an 8 percent in exchange for a signing bonus of $1.8 billion.

China’s oil Juggernaut CNPC Snaps up 8 percent Stake in Abu Dhabi’s Oil Venture

Girish Shetti |

Feb 20, 2017 01:47 AM EST

China's state owned oil and petroleum giant The China National Petroleum Corporation (CNPC) has snapped an 8 percent stake in Abu Dhabi's largest oil concession in a deal that is worth estimated to be $1.77 billion.