China National Petroleum Corporation

In Brief

PUBLISHED : Tuesday, 18 July, 2006, 12:00am
UPDATED : Tuesday, 18 July, 2006, 12:00am

CNPC completes stake sale to kazmunaigaz

China National Petroleum Corp (CNPC) has completed the sale of a 33 per cent stake in PetroKazakhstan to Kazakhstan oil and gas firm KazMunaiGaz as part of conditions of CNPC's acquisition of PetroKazakhstan for US$4.18 billion in October last year, Xinhua quoted an unnamed CNPC source as saying.

power firm sells A shares

Guangdong No2 Hydro-power Engineering, owned by the local government, plans to raise about 383 million yuan by selling 90 million new A shares, or 39 per cent of its enlarged share capital on the Shenzhen Stock Exchange to fund new projects.

shangri-la upgrades

Shangri-La Asia plans to spend US$80 million adding 200 rooms to its 414-room hotel in Fuzhou, Fujian, which officially only received its first guest in April last year, according to sources.

BEA allies with us bank

The Bank of East Asia has formed a business co-operation alliance with California-based City National Bank.