COMPANY NEWS: Megamajors open door to China expansion plans

09/25/2000
Megamajors BP, ExxonMobil Corp., and Royal Dutch/Shell Group have signed separate strategic joint-venture agreements with China's state oil and petrochemical company, Sinopec Corp., to pave the way for their respective expansion plans in the country.Sinopec is expected to launch a global road show Sept. 25 for its initial public offering on the New York, Hong Kong, and London stock exchanges. The Chinese firm will be ready to hit the market in mid-October. Sinopec is looking to raise up to $3 billion.Heading up the rest of company news this week is another round in the continuing frenzy of merger and acquisition activity in Canada-notably a couple of big deals involving key Canadian d...
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