Sinopec's (SNP) plan to invest up to $1B in a Texas clean coal project could be a precursor to a...

|By:, SA News Editor

Sinopec's (SNP) plan to invest up to $1B in a Texas clean coal project could be a precursor to a purchase of Chesapeake's (CHK) Permian Basin oil fields, Christopher Helman speculates. The project aims to capture CO2 emissions from coal, then inject it into old oil fields to coax out more crude; Helman thinks SNP could be securing a long-term CO2 supply before announcing a CHK deal.