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Brightoil seeks major China acquisition after $1 bln Anadarko deal
August 15, 2014 / 6:45 AM / 3 years ago

Brightoil seeks major China acquisition after $1 bln Anadarko deal

HONG KONG, Aug 15 (Reuters) - Brightoil Petroleum Holdings Ltd is seeking to make another major upstream acquisition over the next 12 months and could issue new shares to finance the deal, Chief Executive Bruce Yung told Reuters on Friday.

He was speaking a week after Brightoil completed the $1.05 billion purchase of U.S. producer Anadarko Petroleum Corp’s oilfield stakes in China.

Brightoil, which is involved in oil trading and also owns tankers and oil storage projects in mainland China, is already in talks with potential targets with oil and gas producing assets in China, Yung said.

Reporting by Charlie Zhu; Editing by Miral Fahmy

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