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overbid |
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Chinese and other Asian NOCs participating in bidding rounds in a number of countries have shown a willingness to pay high prices in order to secure exploration and production contracts, sometimes overbidding IOCs. Over-priced properties will not sell and overbidding will subside. This time, the price appreciation has been more steady and while there are multiple offers on some properties, buyers are not overbidding, experts say. |
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