Friday, November 28, 2008

PetroChina Inks Deal

PetroChina Co, the nation's largest oil producer, agreed to buy 50 percent of a gas distributor in the western province of Gansu to expand sales, the local partner said.

PetroChina Kunlun Gas Ltd signed a deal with the provincial government to restructure Lanzhou Gas and Chemical Industry Group Co, Wang Youjun, head of media relations at Lanzhou Gas, told Bloomberg News by phone from the capital of Gansu yesterday. Lanzhou Gas and Chemical Industry Group is the biggest gas distributor in the province.

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