CNPC In Talks To Buy $1.5-Billion Stake In BP’s Oman Gas Field

Chinese state-held giant China National Petroleum Corporation (CNPC) is in advanced talks to buy a 10-percent stake in a giant natural gas field in Oman from BP in a deal that could be worth US$1.5 billion, Bloomberg reported on Thursday, citing people with knowledge of the discussions.    BP, which has had an upstream presence in Oman since 2007, holds 60 percent in the Khazzan natural gas field, one of the Middle East’s most abundant unconventional gas resources, according to the UK-based supermajor. Production at the field…