Aroundtheworld

Zhenhua stake from ADNOC

Abu Dhabi National Oil Co (ADNOC) awarded Chinese state oil company Zhenhua Oil a 4 percent stake in its onshore oil concession, previously held by debtladen CEFC China Energy Co.

Zhenhua Oil is 100 percent indirectly owned by the Stateowned Assets Supervision and Administration Commission of the State Council a Chinese government agency that supervises and manages more than 100 State-owned assets and enterprises in a variety of sectors, including oil and petrochemicals and transport, it said.

CEFC in February 2017 bought a 4 percent stake in giant onshore oilfields majority-owned by ADNOC for $900 million. But the company ran into financial problems following the arrest of its chairman in early 2018.

Vipps seals Alipay deal

Vipps will cooperate with China’s Alipay to enable its Vipps-payment to be used outside Norway and to open the system up for mobile payments by Chinese tourists visiting the country.

“This deal makes it easier for Norwegian restaurants, shops, hotels and tourist destinations to reach the ever-increasing proportion of Chinese tourists to Norway,” a Vipps spokeswoman said on Tuesday.

“Through this collaboration, we also get important strategic opportunities together with Alipay,” she said, adding that Alipay is the most popular app in China with 700 million users.

Vipps, whose main owners include Norway’s biggest bank DNB and lenders, will launch in Spain in the first half of 2019 with other European countries to follow.