China’s top oil and gas producer PetroChina is preparing to open its first South Asia office in India to scout for business opportunities in oil and liquefied natural gas, three industry sources told Reuters.
This is another sign of China expanding its role in overseas markets after years of building refining capacity and as a refined oil product glut builds in Asia.
The company was registered as PetroChina International (India) on July 17 with a total paid-up capital of 33 million rupees ($444,000) in Mumbai, according to the information posted on the Ministry of Corporate Affairs website. Read More
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