PetroChina Plans to Acquire Downstream Player Singapore Petroleum

摘要

PetroChina has dipped into its coffers and splashed out over US$1 billion on a 45.5% stake in Singapore Petroleum Co. (SPC), with the eventual aim of buying the company outright. The Chinese state giant has entered into a conditional agreement with Singapore-based Keppel to acquire its entire stake in SPC, which is listed on the Singapore Stock Exchange.