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PetroChina Co., Asia's largest oil and gas company, is making a $1.7 billion investment in the Canadian oil sands.
Australia gave final approval Wednesday for a natural gas field development that will export $41 billion in energy to China over 20 years.
Earnings results announced Wednesday by major Chinese oil companies were in line with expectations, with industry leader PetroChina's first-half net profit falling 34.5 percent amid rising losses in its refining business.
PetroChina is expected to report that its first-half net profit fell by at least a third, analysts say, as losses in its refining business eroded gains from surging crude oil prices.
PetroChina became the world's first company worth more than $1 trillion on Monday, surging past Exxon Mobil as the Chinese oil producer's shares nearly tripled in their first day of trading in China.
In an Oct. 18 story about Warren Buffet confirming sales of shares in PetroChina Co., The Associated Press misstated the 2003 stock price when Buffett's company, Berkshire Hathaway Inc., invested $488 million. The shares traded at $20 to $57 in 2003, not at $140.78, the price in late 2006.
The Australian government is trumpeting its triumph with the signing of the biggest contract in Australian history. PetroChina signed a $50 billion dollar deal with ExxonMobile to supply gas from the Gorgon gas project in the Pilbara for twenty years.
You Thought Corporate Oil was Bad? Meet National OilOil is, without argument, the most important commodity on the face of the planet. It is used in nearly every process and by almost every person on earth.
World's first trillion dollar companyAmerican? No, it's Chinese. PetroChina. From the article: "By market capitalization, it is now worth more than the two previous global corporate front-runners, ExxonMobil (XOM) and General Electric (GE), combined."
ExxonWhat? PetroChina Is the New No. 1A new listing on the Shanghai stock market, PetroChina, made a $9 Billion debut this week. The shares are valued at about $5.90 American, for a total value of almost one billion. (Mobil is second at about half that.) Is it overpriced? Some think so.
Myanmar - The geopolitical stakes of 'Saffron Revolution'Myanmar's (Burma )misguided policies have released runaway inflation (>35%), and massive price increases in food and gasoline in a country where 50% of the population spends 70% of their income on food.
Buffett says has sold entire PetroChina stakeWarren Buffett said on Thursday his Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research) (BRKb.N: Quote, Profile, Research) insurance and investment company has sold its entire stake in PetroChina Co Ltd (0857.HK: Quote, Profile, Research), whose parent has been criticized f …
The New Exxon - PetroChina Shareholders Approve Shanghai Stock SaleAug. 10 (Bloomberg) -- PetroChina Co. shareholders approved a $5.6 billion Shanghai stock sale, agreeing to a plan that will enable China's largest oil producer to close in on Exxon Mobil Corp. as the world's biggest company by market value.
NAACP targets Berkshire Hathaway and Fidelity for Darfur involvement....The NAACP has helped to launch a massive campaign to force the companies Fidelity and Berkshire Hathaway to withdraw investments from Sudan over the humanitarian crisis in Darfur....
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