Bank of China signs deals with South Africa’s Nedbank CNPC seen tapping Exxonto-rosneft fuel assets

Bank of China said on Tuesday it had signed strategic cooperation agreements with South Africa’s Nedbank Group to strengthen its business in Africa. The fourth-largest Chinese lender said in a statement that the banks will start cooperation in areas such as retail banking, cards and financing infrastructure. Bank of China will support Nedbank in terms of yuan business, while Nedbank will facilitate its new China National Petroleum Corp has already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil Corp and Russia’s OAO Rosneft may be next on the list. China’s largest oil producer, known as CNPC, has spent more than $9 billion in purchases this year and is considering spending another $4 billion, according to people familiar with the matter, as part of a plan to double overseas output by 2015.