Article: PETROCHINA OKED TO QUIT COALBED METHANE JV


AsiaInfo Services
04-24-2009
PetroChina OKed to Quit Coalbed Methane JV

BEIJING, Apr 24, 2009 (SinoCast Daily Business Beat via COMTEX) -- PetroChina Co., Ltd. (SHSE: 601857; NYSE: PTR; SEHK: 0857), one of the three biggest oil and gas giants in China, has gained the approval form the State-owned Assets Supervision and Administration Commission (SASAC) to withdraw from China United Coalbed Methane Co., Ltd..

PetroChina will withdraw half of the investment and take away 50 percent of coalbed methane blocks from China United Coalbed Methane, a 50-50 joint venture between the oil giant and China National Coal Group Corp. (ChinaCoal), said sources.

There are only some details to be dealt with, ...

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