Samsung in Talks to Buy Parallel Petroleum from Apollo

South Korean trading company Samsung C&T is in talks to purchase oil company Parallel Petroleum, which is currently owned by Apollo Global Management, Reuters said. Samsung C&T is an affiliate of conglomerate Samsung Group. Parallel, based in Midland, Texas, develops and invests in "long-lived" oil and natural gas fields in West Texas and New Mexico, Reuters wrote.

North AmericaUSBriefs