PetroChina and COSCOSigned Agreement to JointlyDevelop Ship Fuels Market

摘要

PetroChina signed a cooperation framework agreement with China Ocean Shipping (Group) Company (“COSCO”) in Beijing on March 8. It is preliminarily agreed that PetroChina will become a shareholder of China Marine Bunker Supply Company (“CMBSC”), a subsidiary of COSCO, by injecting capital into the company and CMBSC will be restructured to become a company with limited liability.