China Petrochemical Corp., also known as Sinopec Group, is in talks to buy more than $1 billion in assets from U.K. independent oil and gas company Afren PLC (AFR.LN), Bloomberg News reported Friday on its website, citing people with knowledge of the matter.

The assets include those in Nigeria.

A Sinopec Group spokesman could not be reached for comment by Bloomberg and Afren declined comment.

Full story at: www.bloomberg.com/news/2013-02-01/sinopec-said-in-talks-to-buy-1-billion-in-afren-assets.html

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