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"China National Petroleum Corporation (CNPC), the country's largest oil company, is bidding for Canadian energy company Verenex Energy to broaden its oil and gas assets in Africa, it was reported today.
The deal may worth about $300 million, the South China Morning Post reported, citing sources, noting that a successful bid would broaden CNPC's assets in Africa where Verenex owns a 50% stake in part of Ghadames Basin in Libya."
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