REUTERS - Sun Oct 25, 2015
Oct 25 China's Yantai Xinchao Industry
Co Ltd has agreed to spend about 8.3 billion yuan
($1.31 billion) to buy oilfields in the U.S. state of Texas, the
company said in a corporate filing late on Saturday.
The oilfields, in Howard and Borden counties, will be bought
from Tall City Exploration LLC and Plymouth Petroleum LLC,
Xinchao said in the filing to the Shanghai Stock Exchange.
The transaction has aready been approved by the U.S.
Treasury's Committee on Foreign Investment, it added.
($1 = 6.3488 Chinese yuan renminbi)
(Reporting by Ben Blanchard and Meng Meng; Editing by Simon
Cameron-Moore
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