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CNPC interested in Repsol assets -paper

Sun Apr 13, 2008 10:29pm EDT

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HONG KONG, April 14 (Reuters) - China National Petroleum Corp has "expressed interest" in Repsol YPF (REP.MC), the South China Morning Post reported on Monday.

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CNPC aborted a plan last year to buy Repsol YPF's $20 billion Argentine assets.

Spanish oil major Repsol plans to hive off 25 percent of its Argentine YPF unit, although the recent credit crunch may make it more difficult to find buyers who can raise the cash.

The perception in the market is that Repsol has set the price it originally paid for YPF, $15 billion, as the floor for the sale of a stake in the firm's Argentine business.

Of the resulting business, between 15 and 20 percent is planned to be listed on the Argentine market in an IPO.

CNPC's listed subsidiary is PetroChina (601857.SS)

(Reporting by Michael Flaherty, Editing by Ken Wills)

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