USA’s Devon Energy swaps $2.2bn shale asset with Sinopec

American energy supplier Devon Energy is swapping a third of its five newest shale gas ventures for $2.2billion investment from Chinese state-owned oil firm Sinopec. The Oklahoma-based oil and gas firm will operate the projects, it announced yesterday. John Richels, Devon’s president and chief executive officer said: “This transaction provides us [with] further flexibility to […]