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Article: China: BHP Billiton Quits Chinese Coalbed Methane Market.
- Article from:
- TendersInfo
- Article date:
- April 11, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
Global mining giant BHP Billiton is reportedly withdrawing from a coalbed methane project in China, and after the transactions are over, it will quit its only joint venture project in the country just as Rio Tinto.
The joint venture project will be wholly owned by a coalbed methane company under the aegis of China National Petroleum Corporation (CNPC), a leading oil and gas producer in the country and the parent of PetroChina Co., Ltd. (SHSE: 601857; NYSE: PTR; SEHK: 0857).
As early as 2004, BHP Billiton joined hands with China United Coalbed Methane Co., Ltd., a joint venture between PetroChina China National Coal Group Corp. ...