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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