The following is a selection of the most important news affecting the oil market.
Sinochem Group, China’s biggest fertilizer trader, considers even a $10 billion bid for Potash Corp. of Saskatchewan Inc. by itself as too much, Caijing magazine said, citing Han Gensheng , the company’s vice president.
Sinochem Corp. plans to raise as much as 35 billion yuan ($5.5 billion) in an initial public offering to fund an oil refinery project, in what would be China’s sixth-biggest IPO.
Sinochem Group, China’s biggest supplier of chemical products, agreed to buy 10 percent stakes in five deep water natural-gas and oil exploration blocks off the coast of Brazil from Perenco SA.
Sinochem Group said it is “evaluating” a bid for Potash Corp. of Saskatchewan Inc., the China Business News reported, citing company spokesman Li Qiang.