Sale to parent
Source: Agencies |
January 1, 2011, Saturday
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Print Edition
Print Edition
PETROCHINA Co, the world's second-most valuable oil and gas producer, yesterday said it will sell its interest in an oil storage firm to its parent for 2.11 billion yuan (US$319.7 million) to optimize its asset structure.
The company had agreed to sell its entire interest in PetroChina Guangxi Oil Storage Ltd to China National Petroleum Corp, it said in a statement to the Hong Kong stock exchange. PetroChina said its initial investment for the 100 percent stake in Guangxi Oil Storage was 2.01 billion yuan.
The company had agreed to sell its entire interest in PetroChina Guangxi Oil Storage Ltd to China National Petroleum Corp, it said in a statement to the Hong Kong stock exchange. PetroChina said its initial investment for the 100 percent stake in Guangxi Oil Storage was 2.01 billion yuan.
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