Updated Saturday, March 6, 2010 1:59 pm TWN
PetroChina Co., the nation's biggest energy producer, started taking initial steps in its acquisition of Scotland's only oil-processing plant that would give the Hong Kong-listed
company its first European refining operation.
“Preliminary work” on a bid for the Grangemouth refinery owned by Ineos Group Holdings Plc is under way, PetroChina Chairman Jiang Jiemin told reporters in Beijing today before attending a meeting of the National People's Congress. Talks had already begun, a Falkirk councilor said last year.
PetroChina is investing in refineries to reduce dependence on oil production while expanding exploration and increasing overseas cooperation to meet domestic demand. Acquisitions last year included a stake in Nippon Oil Corp.'s Osaka processing plant, a refinery in Singapore, a US$1.46 billion venture in Kazakhstan with KazMuniaGaz National Co. and a US$1.7 billion deal to buy a stake in an oil-sands project in Canada
Review: http://www.chinapost.com.tw/business/company-focus/2010/03/06/247106/PetroChina-takes.htm
PetroChina Co., the nation's biggest energy producer, started taking initial steps in its acquisition of Scotland's only oil-processing plant that would give the Hong Kong-listed
company its first European refining operation.
“Preliminary work” on a bid for the Grangemouth refinery owned by Ineos Group Holdings Plc is under way, PetroChina Chairman Jiang Jiemin told reporters in Beijing today before attending a meeting of the National People's Congress. Talks had already begun, a Falkirk councilor said last year.
PetroChina is investing in refineries to reduce dependence on oil production while expanding exploration and increasing overseas cooperation to meet domestic demand. Acquisitions last year included a stake in Nippon Oil Corp.'s Osaka processing plant, a refinery in Singapore, a US$1.46 billion venture in Kazakhstan with KazMuniaGaz National Co. and a US$1.7 billion deal to buy a stake in an oil-sands project in Canada
Review: http://www.chinapost.com.tw/business/company-focus/2010/03/06/247106/PetroChina-takes.htm
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