China continues to move to shore up its access to natural resources.

On Monday, ConocoPhillips announced plans to sell its 9 percent interest in a Canadian oil sands joint venture to China Petroleum and Chemical Corp., better known as Sinopec. Sinopec has agreed to pay $4.64 billion for the stake in the oil-producing assets, a venture operated by Syncrude Canada, the world’s largest producer of light sweet crude oil from oil sands.

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