China Petroleum & Chemical Corp. (SNP) or Sinopec has made an offer to the Ghanaian government to jointly bid for stake in a major oil discovery off the coast of the West Africa country, the Wall Street Journal reported, citing person familiar with the matter.
The report specified that Sinopec's recent initial offer was rejected by state-run Ghana National Petroleum Corp, and the Ghanaian company is waiting to hear from all potential partners before making a decision.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.