China National Petroleum Eyes U.S. Natural Gas

HONG KONG, July 28 (Reuters) - China National Petroleum Corp (CNPC), China's top state oil firm, is thinking of bidding for minority stakes in shale gas assets of Chesapeake Energy Corp, according to a local newspaper report.

Chesapeake is looking to raise as much as $5 billion this year from selling minority stakes in its Arkansas and Pennsylvania shale gas properties, the South China Morning Post reported on Monday, citing unnamed market sources.
continued