CNPC picks up Petrobras' Peru assets for US$2.6 billion
The deal consolidates CNPC-PetroChina's position in Peru, where it is already the country's second largest oil producer. This is the company's fourth major acquisition of 2013 - following deals in Kazakhstan, Mozambique and Russia - and takes year-to-date spend to US$16 billion. This is a record annual amount for the company, and 2013 is on course to be the first year since 2005 in which CNPC has outspent both CNOOC and Sinopec. Having historically punched well below its weight ...