PetroChina Co., the country’s biggest oil and gas producer, will seek to increase cooperation with companies including Exxon Mobil Corp., BP Plc and Royal Dutch Shell Plc as it looks to add overseas resources.
PetroChina Co., Asia’s biggest oil and gas producer, dropped a bid to acquire WestSide Corp. as a strong Australian dollar and rising costs discourage resources projects in the country, the Brisbane-based explorer said.
China National Petroleum Corp., China’s largest oil producer, is in talks to acquire Barra Energia Petroleo e Gas, a Brazilian oil startup, for about $2 billion, people with knowledge of the matter said.
China’s Premier Li Keqiang flew to the southwestern province of Sichuan to oversee relief work as the death toll from yesterday’s earthquake climbed to 179 and officials struggled to help 1.5 million people affected by it.
PetroChina Co., the nation’s biggest oil and gas producer, is looking to make more deals in Australia, adding to about $3.7 billion in acquisitions as part of a global drive to feed surging Chinese demand.
An oil spill caused by pipeline blasts at a terminal of China’s Dalian port may be cleaned up this week, allowing the country’s largest crude-oil terminal to resume receiving supplies for two PetroChina Co. refineries.
China’s grain market will be well supplied from inventories and rerouting of shipments as the clean-up of the Dalian oil spill keeps the port closed for as many as 10 days, said an analyst at Shanghai JC Intelligence Co.
PetroChina Co. agreed to pay Encana Corp. C$1.18 billion ($1.2 billion) for a 49.9 percent stake in an Alberta shale formation as Asia’s biggest oil producer steps up acquisitions of overseas oil and gas assets.