China and Iraq have reached an agreement on a landmark three billion dollar deal to exploit oil in the Middle Eastern country, the Iraqi embassy in Beijing said Thursday.
The two sides reached the agreement during a visit to China by Iraqi Oil Minister Hussain al-Shahristani, according to a statement issued by the embassy.
The agreement revives [...]
China National Petroleum Corp. (CNPC), the nation’s top oil and gas producer, and two other state-run companies have understated profits by over one billion dollars, state media reported.
CNPC, power generator China Huadian Corp. and Harbin Power Equipment Company underreported their profits by 7.03 billion yuan (US$1.03 billion), the Xinhua news agency said late Wednesday, citing [...]
PetroChina Co. Ltd, China’s largest oil and gas producer, will acquire a 51.89% stake in CNPC (Hong Kong) from its parent China National Petroleum Company (CNPC) for HK$7.59 billion (US$972 million), market sources reported.
Under the agreement, the Beijing-based PetroChina will settle the transaction in cash.
The move is aiming to further expand the company’s gas business [...]
China and Iraq have reached an agreement on a landmark three billion dollar deal to exploit oil in the Middle Eastern country, the Iraqi embassy in Beijing said Thursday.
The two sides reached the agreement during a visit to China by Iraqi Oil Minister Hussain al-Shahristani, according to a statement issued by the embassy.
Tags: CNPC, Oilfield, [...]
China National Petroleum Corp and two other firms directly controlled by the central government had underreported profit by more than 7 billion yuan , the official Xinhua news agency reported on late Wednesday.
The report did not specify for which period the false statement occurred, nor did it disclose the amount of understatement by each company.
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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 [...]
