Sinopec Is Eager for Upstream Resources     

Sinopec Group's source said on February 4th the oil group is in talks to purchase a 20% interest in Repsol YPF, a Spanish oil company, from Spanish builder Sacyr Vallenhermoso.
   The move is to strengthen Sinopec's upstream oil/gas resources presence as 80% of crude oil needed by its refineries is sourced from oversea markets.
   Any agreement has not been signed between the two sides yet, the source added.