A Chinese listed investment company is expected to buy oil fields in the United States.
Shandong-based Xinchao Shiye has signed a letter of intent to purchase oil fields in Texas for 8.3 billion yuan, or 1.3 billion U.S. dollars.
The oil fields are in counties of Howard and Borden, Texas.
Meanwhile, Xinchao Shiye has inked a deal with Ningbo Dingliang Huitong Equity Investment Center, a limited liability partnership.
The Center is going to purchase the oil fields from Tall City Exploration and Plymouth Petroleum, two limited liability companies registered in Nevada, through Moss Creek Resources, LLC, the Center's subsidiary.
Such a transaction has already received approval from the US Committee on Foreign Investment.
Chinese buying Texas oil fields.
Discussion in 'Oilfield Trucking Forum' started by Chinatown, Oct 26, 2015.
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They've been selling out to China for awhile. Oklahoma and Nevada too. Chesapeake Energy sold out to them awhile back.
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I trained with a Chinese driver, passport and everything, he loved that Laredo terminal, any time, any day.
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Looks like they'll be able to bring in Chinese workers to work for less money than the locals
Canned Spam Thanks this. -
What's new..greed has made America weak
TheFriscoKid, 12 ga and Big Don Thank this. -
Subversion at the very top is what has weakened our country. Everything is deliberately orchestrated
White_Knuckle_Newbie Thanks this. -
I've heard they own a bunch of hay farms out by Vicksburg, AZ
BentleyB Thanks this. -
United States of China
BentleyB, TheFriscoKid, White_Knuckle_Newbie and 1 other person Thank this. -
I believe it would be wise to learn the language in the near future.
bubbavirus and Straight Stacks Thank this.
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