Article: Chinese oil company gets $30 billion loan for acquisitions; Huge loan aimed at Chinese acquisitions ; $30 billion for oil firm is part of strategy to lock down overseas resources

Chris V Nicholson
International Herald Tribune
09-10-2009
Chinese oil company gets $30 billion loan for acquisitions; Huge loan aimed at Chinese acquisitions ; $30 billion for oil firm is part of strategy to lock down overseas resources
Byline: Chris V Nicholson
Type: News

It was the latest sign that Beijing was deploying its vast cash reserves to ensure that its economy had the resources it needed to keep growing.

China National Petroleum Corp., parent of the state-run oil and natural gas giant PetroChina, announced Wednesday that it had received a low-interest $30 billion loan to finance overseas acquisitions -- the latest sign that Beijing was deploying its vast cash reserves to ensure ...

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