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URGENT ¥¥¥ ENI sells Mozambique stake to CNPC for $4.21bn

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(Globalpost/GlobalPost)

The Italian energy group Eni said Thursday that it had sold a 20-percent stake in an oil field know as Area 4 in Mozambique to the Chinese company CNPC for $4.21 billion.

"CNPC’s entrance into Area 4 is strategically important for the project thanks to the worldwide relevance of the new partner in the upstream and downstream sectors," a statement said.

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http://www.globalpost.com/dispatch/news/afp/130314/urgent-eni-sells-mozambique-stake-cnpc-421bn