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Power Utility

Staff Reporter

, China

Published:

13 years ago

China's Sinopec to acquire Daylight Energy for C$2.2 b

The transaction would mark the latest energy sector deal between China and Canada.

According to a Reuters report, Canadian oil and gas explorer Daylight Energy Ltd said it has agreed to be acquired by China's Sinopec International Petroleum Exploration and Production Corp for about C$2.2 billion.

The purchase "recognizes the highly attractive asset portfolio and exceptional team that we have assembled at Daylight," Daylight Chief Executive Officer Anthony Lambert said in a statement.

The transaction would mark the latest energy sector deal between China and Canada. In July, China's top offshore oil producer, CNOOC Ltd (0883.HK) agreed to buy struggling Opti Canada Inc (OPC.V) for $34 million and $2 billion in debt, according to the report.

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