Angola: Angola: Sinopec, CNOOC to buy marathon stake in Angola block

China Petroleum & Chemical Corp., the country’s largest refiner, and CNOOC Ltd. agreed to buy a 20 percent stake in Angola’s offshore deepwater Block 32 for $1.3 billion from Marathon Oil Corp. Marathon, the fourth-largest U.S. oil company, will keep a 10 percent interest in the block, site of 12 announced petroleum discoveries, after the sale, which is expected to close by year- end, the companies said today in separate statements.