PetroChina Company Ltd. announced Sunday that it has finished forming two joint ventures with INEOS Group Holdings PLC to conduct crude oil refining and trading.
The two joint ventures, INEOS Refining Ltd. and INEOS Refiniung II Ltd., will use assets at Scotland's Grangemouth refinery and France's Lavera refinery to conduct refining and trading businesses, PetroChina said in a statement to the Shanghai Stock Exchange.
The transaction was completed between PetroChina International (London) Co. and INEOS Investment (Jersey) Ltd. on July 1, the statement said.
PetroChina International (London) Co. paid 1.015 billion U.S. dollars in cash to purchase 50.1 percent of the outstanding shares of the first joint venture and 49.9 percent of the shares in the second, according to the statement.
Source:Xinhua
Weekly review
The two joint ventures, INEOS Refining Ltd. and INEOS Refiniung II Ltd., will use assets at Scotland's Grangemouth refinery and France's Lavera refinery to conduct refining and trading businesses, PetroChina said in a statement to the Shanghai Stock Exchange.
The transaction was completed between PetroChina International (London) Co. and INEOS Investment (Jersey) Ltd. on July 1, the statement said.
PetroChina International (London) Co. paid 1.015 billion U.S. dollars in cash to purchase 50.1 percent of the outstanding shares of the first joint venture and 49.9 percent of the shares in the second, according to the statement.
Source:Xinhua
Weekly review
