WSJ.com - PetroChina Plans Pipeline Expansion
WSJ.com - PetroChina Plans Pipeline Expansion
Associated Press
September 16, 2005
PetroChina Co., China's dominant oil and gas company, plans to spend as much as 100 billion yuan ($12.35 billion, or €10.06 billion) to expand its network of oil and gas pipelines over the next five years to meet soaring demand.
Much of the 15,000 kilometers of new pipeline will be located in the southwest, northwest and northeast as part of an effort to reach more end users and beef up PetroChina's refining business, the company said.
PetroChina is the listed arm of China's major oil and gas producer, China National Petroleum Corp., or CNPC.
The company is positioning itself to fight off growing competition in the refined-oil-products retailing market and to meet surging demand for oil and gas in major industrial regions such as the northeast.
The plan includes a cross-border pipeline to transport crude oil to refineries from PetroKazakhstan, recently acquired by CNPC for $4.2 billion (€3.42 billion), the official newspaper China Daily cited an unnamed company official as saying.
Associated Press
September 16, 2005
PetroChina Co., China's dominant oil and gas company, plans to spend as much as 100 billion yuan ($12.35 billion, or €10.06 billion) to expand its network of oil and gas pipelines over the next five years to meet soaring demand.
Much of the 15,000 kilometers of new pipeline will be located in the southwest, northwest and northeast as part of an effort to reach more end users and beef up PetroChina's refining business, the company said.
PetroChina is the listed arm of China's major oil and gas producer, China National Petroleum Corp., or CNPC.
The company is positioning itself to fight off growing competition in the refined-oil-products retailing market and to meet surging demand for oil and gas in major industrial regions such as the northeast.
The plan includes a cross-border pipeline to transport crude oil to refineries from PetroKazakhstan, recently acquired by CNPC for $4.2 billion (€3.42 billion), the official newspaper China Daily cited an unnamed company official as saying.
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