PetroChina Buys 50% Stake In Encana Corp.’s Cutbank Ridge

PetroChina Co. (PTR) , the country’s biggest energy producer, agreed to buy a 50% stake in Encana Corp.’s Cutbank Ridge gas assets for C$5.4 billion ($5.4 billion) in its largest overseas acquisition. The purchase of PetroChina’s first gas asset in North America would take energy acquisitions by Chinese companies to about $46 billion since last year as they compete with South Korean and Indian rivals for resources. – Bloomberg

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.