About: PetroChina (NYSE: PTR), PetroChina, Shanghai Securities News, China Stock Digest, Australia's Arrow Energy, Royal Dutch Shell (NYSE: RDS-A), Royal Dutch Shell , Chinese equities, Jim Trippon, China's equity markets
PetroChina (NYSE: PTR), the world's largest company by market value, has no plans to build electric-car charge stations in China and the company said it remains committed to developing oil reserves, according to a report in the Shanghai Securities News.
The company plans to supply 400 million tons of the 600 million tons of oil China will need by 2020, the report said. In late March, PetroChina said it plans to spend $60 billion acquisitions over the next decade to help China meet its soaring energy needs. PetroChina recently acquired Australia’s Arrow Energy in a joint bid with Royal Dutch Shell (NYSE: RDS-A), Europe’s second-largest oil company, for $3.2 billion.
For more information about China Stock Digest, visist http://www.chinastockdigest.com. To see the latest special offer from China Stock Digest, visit: http://www.chinastockdigest.com/subscribe-now/china-stock-digest-subscribe-now.html
Disclosure: no positions