CommodityOnline, 10 Sep 2009
Petro-China Co. (SHA: 601857) and its private-peer China Huaneng Co. have agreed to set an alliance over their strategy to expand in Singapore, pursuant to which they are set to acquire Singapore Petroleum Co. (SIN: S99) and Tuas Power Co. respectively.
Petro-China and China Huaneng Co. are China's biggest oil and power generation companies. Singapore Petroleum Co Ltd. is principally engaged in the developing and producing oil and gas, petroleum refining and marketing.
Full Story
