Caixin
Jan 04, 2013 01:49 PM

Australian, Canadian Deals Extend CNPC's Reach

 
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(Beijing) -- China National Petroleum Corp. (CNPC) announced two major overseas acquisitions in mid-December as the oil giant continued its accelerated pace of global expansion.

State-run CNPC said December 12 it would buy a 10.2 percent stake in the Browse liquefied natural gas (LNG) project in Australia for US$ 1.63 billion from the mining company BHP Billiton.

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