With regulatory hurdles too high, state-owned Sinopec (NYSE:SNP) and ENN Energy (OTCPK:XNGSF)...

With regulatory hurdles too high, state-owned Sinopec (NYSE:SNP) and ENN Energy (OTCPK:XNGSF) drop their $2.2B hostile bid for home-country natgas operator China Gas (OTCPK:CGHOF). All's not lost, though, as China Gas goes for a strategic co-op agreement letting Sinopec sell gas directly to Chinese homes, and allowing for future share buys. (previously)