Repsol to acquire rest of North Sea JV, settling dispute with Sinopec

Repsol to acquire rest of North Sea JV, settling dispute with Sinopec

Signage for a China Petroleum & Chemical Corp. (Sinopec) gas station stands next to a road at dusk in Hong Kong, China Photographer: Vivek Prakash/Bloomberg

Spain’s Repsol has reached an agreement with Chinese energy conglomerate Sinopec to buy the 49% of a joint venture in the North Sea it does not already own, it said on Friday, settling a long-running arbitration between them.