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Statoil allegedly pursuing Tullow Oil

Several media outlets report that Statoil is looking to acquire Irish Tullow Oil, but the acquisition may be easier said than done.

Photo: Tullow Oil

A bidding war is currently taking place over Tullow Oil, according to several media, with Statoil on one side and Sinochem - a state-owned Chinese oil company - on the other, reports Norwegian newspaper Dagens Næringsliv.

The story developed from a small piece in a market rumor column, but several news media are now reporting that Statoil is looking to acquire Irish Tullow Oil, but that Sinochem is also interested.

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