Eni inks oil deal with CNPC
Eni signed a cooperation agreement with China National Petroleum Corp on Wednesday in a move that could give the Italian oil major greater access to the Chinese market. Eni said in a statement it had agreed to work with State-owned CNPC in the fields of exploration and production, liquefied natural gas, trading and refining-petrochemicals. The deal will cover operations in China and abroad. “It could allow Eni to tap Chinese resources while allowing CNPC to use Eni skills to develop its assets round the world,” one London-based oil analyst said.