Petrochina to Buy 50% Stake in CNPC for $11.8 Billion

PetroChina Co. (PTR), one of mainland China’s biggest oil producer and Asia’s most profitable co., according to WSJ - has agreed to buy the 50% stake international joint venture held by its parent co., state-owned China National Petroleum Corporation (CNPC), in a deal valued at $11.8 billion. PetroChina took its 50% stake in the venture in [...]