Beijing: Chinese energy giant China National Petroleum Corporation (CNPC)’s overseas acquisition continues. It is in talks with Italy’s Eni over the proposed purchase of a stake in a Mozambique gas project.

Source from SinoShip

Italy’s largest oil company may sell up to 20% of the gas block and the value of the deal may reach $4bn, Bloomberg reported.

CNPC has already acquired oil and gas fields in several African countries to meet the energy demand in China and this deal may become the largest overseas investment it has ever made.