Jan 30 Oil and gas producer Pioneer Natural Resources Co said it will sell 40 percent of its interest in the Wolfcamp shale field in Texas to China's state-run Sinochem Group Co Ltd for $1.7 billion.
Sinochem will pay $500 million in cash and will fund a portion of Pioneer's share of drilling and facilities costs.
Under the agreement, Sinochem will acquire about 82,800 net acres of leasehold held by Pioneer.
South Africa's Gordhan to court investors in Britain, U.S.
JOHANNESBURG, March 25 South African Finance Minister Pravin Gordhan embarks on a week-long non-deal investor roadshow in Britain and the United States on Monday as weak economic growth and ruling party tensions put the country's investment grade at risk.