PetroChina Co. agreed to buy parent China National Petroleum Corp.’s 50 percent stake in an oil and gas exploration company for US$11.8 billion, the Wall Street Journal reported, citing a person familiar with the matter.
The acquisition price was set in late April and differences over the payment of a tax on capital gains delayed the [...]
PetroChina Co Ltd, the country’s largest oil and gas producer, has agreed to acquire a 50% stake in CNPC Exploration and Development Co (CNPC E&D) from its parent China National Petroleum Corp (CNPC) for US$11.8 billion, a source familiar with the matter, said on Monday.
The source also said PetroChina intends to issue new shares on [...]
Cnooc Ltd.’s first-half profit growth may be double that of Exxon Mobil Corp. and Royal Dutch Shell Plc after China’s third-largest oil company increased its crude reserves and output amid record prices.
Net income probably climbed 52 percent to 22.1 billion yuan ($3.2 billion), according to the median estimate of five analysts surveyed by Bloomberg News. [...]
China National Petroleum Corp. said it has discovered oil and natural gas in two blocks in Kazakhstan as the biggest Chinese oil producer steps up exploration to meet rising domestic demand for energy.
PetroKazakhstan Inc., a unit of China National, made the discoveries in the Karaganda and Doshan blocks, the Beijing- based company said in a [...]
China National Petroleum Corp. (CNPC), the country’s largest oil producer, is mulling over increasing its portfolio in the urban gas distribution sector.
CNPC, also the country’s leading company in natural gas production and transportation, said it would use its dominance role in domestic gas production and supply upstream business to further develop its gas retail operation, [...]
Shanghai stocks yesterday climbed over 1 percent, led by energy-related companies after crude oil traded at US$119 a barrel, the lowest since early May.
The benchmark Shanghai Composite Index added 28.62 points, or 1.06 percent, to close at 2,719.37. Gainers outnumbered losers 494 to 338 and 75 remained unchanged. Turnover fell to 41.13 billion yuan (US$6 [...]
