China buys up Tullow shares
Published 13/11/2011 | 05:00
China has built up a one per cent stake in Aidan Heavey's (pictured) Tullow Oil giant resources firm.
Filings show that the People's Republic holds a €140m stake in the Africa-focussed oil company. The Chinese investment company owns almost nine million shares in Tullow.
China has been widely linked as a potential buyer of Tullow, through its state owned Cnooc national oil company. Tullow is already involved with China in its Ugandan oil fields.
Last week Tullow suffered a setback when drilling off Liberia in West Africa proved unsuccessful.
Sunday Indo Business