CNPC buys

2009-2-27 | NEWSPAPER EDITION

CHINA National Petroleum Corp, the biggest Chinese oil company, agreed to buy Canada's Verenex Energy Inc for about C$499 million (US$398 million).

A unit of CNPC International Ltd agreed on Tuesday to buy the Canadian firm for C$10 a share in cash, said a Verenex statement yesterday.

Use of forex reserves for energy fund studi...

CHINA is considering using part of its huge foreign exchange reserves to set up a fund for overseas energy exploration and acquisitions as part of a state plan to encourage offshore expansion, the nation's top oil...