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Equatorial Guinea, Sinochem Sign Preliminary Crude-Oil Agreement

posted by – July 20th, 2012

BEIJING–Equatorial Guinea, the third-largest crude-oil producer in sub-Saharan Africa, and China’s state-owned Sinochem Group signed a preliminary agreement Friday that would involve shipping crude to China in exchange for credit that would be used to pay for infrastructure projects.

Under the agreement, Equatorial Guinea will ship around 11,000 barrels a day.



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