PetroChina plans USD60bln on overseas oil and gas investments
PetroChina has planed to invest 60 billion US dollars to boost its overseas oil and gas output to 200 million metric tons in oil equivalent, Jiang Jiemin, the chairman of the board, said on June 20, 2010. Jiang made the disclosure after the shareholders conference held on Thursday in Beijing without elaborating the period for such investments.
He said that the current decline of international oil prices poses little negative impact on PetroChina's profits in the first half, while giving a "very good" comment on the company performance in the first four months in 2010. The company boss said he supports the government's plan to introduce resources tax in Xinjiang region as a test before it becomes a nationwide practice.