US Companies Keen On Chinese Oil Assets
2003-8-11Neftegaz.ru
    US investment companies are increasingly placing their bets on Chinese oil companies. There is the hope that strong growth in the country’s oil sector will increase the value of these stocks.
    Vanguard Group, the second largest US mutual fund bought a stake in Sinopec for $327 million. This came only four month after Warren Buffet decided to invest in Petro China.
    It was suggested that Petro China is more attractive to invest in, due to its high percentage of revenues which stem from upstream activities. Downstream business is likely to face heavy competition in China.
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