PetroChina Renews Financial Deal With Related Company

MT Newswires Live

03/30

PetroChina (SHA:601857, HKG:0857) agreed to renew its financial deal with related company, China Petroleum Finance, according to a Sunday filing on the Hong Kong bourse.

PetroChina's Shanghai shares rose 3% and Hong Kong shares rose 2% at the close of Monday's trade.

China Petroleum Finance is a subsidiary of the oil giant's controlling shareholder, China National Petroleum.

The renewed contract is effective until Jan. 1, 2027.

The company also renewed a leasing deal with China National Petroleum that allows the company to continue using certain land rights and lease properties from the latter.

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