State Bank Lends CNPC $30 Billion for China's 'Go Global' Strategy

摘要

China National Petroleum Corp. (CNPC) is amassing more ammunition as it moves to bulk up its overseas portfolio, on Tuesday securing a five-year, $30 billion loan from China Development Bank (CDB). The state energy giant said the bank would offer a preferential interest rate on the loan, intended to back China's "go global" policy for domestic firms and improve China's energy security. The loan was announced the day after it emerged that CNPC had pulled out of a C$446 million (US$417 million) deal to buy Canadian Verenex after the Libyan government refused to approve the takeover (IOD Sep.9,p6).