Dec. 14, 2009 () - China Petroleum & Chemical Corporation<600028><0386><SNP>, is unlikely to buy overseas oil and gas assets from its parent company this year, according to the company’s board secretary Huang Wensheng, source reported today.

Huang said at a media briefing on Friday that Sinopec Group's overseas equity crude oil production will rise to 17 million tons this year after it bought Addax Petroleum.

Huang said since the process of asset injection is complicated and it also needs shareholders approval, the company will probably not do that this year.