Saudi Aramco, China Petroleum & Chemical Corp (Sinopec) and CNOOC Ltd are each in talks to purchase up to a 30 percent stake U.S. oil and gas services company Frac Tech International two sources with knowledge of the matter said.The oil companies' discussions over a deal worth about $2.2 billion underline the growing interest in fracking, a controversial mining technique which has opened up huge reserves of previously untapped oil and gas but has attracted criticism from environmentalists.The sources also said Frac Tech was in advanced talks with Saudi Aramco, Sinopec and Spain's Repsol-YPF SA to establish three separate fracking joint ventures in the Middle East, Argentina and China.Frac Tech, which is 30 percent owned by Chesapeake Energy Corp, is looking to sell between 20 percent and 30 percent of itself, the sources said, and may sell the whole stake to one party or divide it up.
CNOOC Limited, along with its subsidiaries, is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company. Shares of CEO remained unchanged at $185.38. In the past year, the shares have traded as low as $141.27 and as high as $271.94. On average, 273514 shares of CEO exchange hands on a given day and today's volume is recorded at 0.
China Petroleum & Chemical Corporation (Sinopec Corp. Shares of SNP remained unchanged at $101.36. In the past year, the shares have traded as low as $82.50 and as high as $111.92. On average, 209000 shares of SNP exchange hands on a given day and today's volume is recorded at 0.
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