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PetroChina begins asset divestment

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Report summary

PetroChina announced a series of asset sales and internal mergers including the sale of its 50% stake in the Trans Asia Gas Pipeline Co. to Mansong Holdings a subsidiary of China Reform Holdings Corp. the integration of its two natural gas transmission businesses Kunlun Gas Company and Kunlun Energy Company and atransfer of 6 natural gas storage facilities to its parent company CNPC. When completed these moves will generate around US$3 billion in sale proceeds to PetroChina increasing cash flow and providing a one off boost to profits at a time of low oil prices.

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    PetroChina begins asset divestment

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  • Kunlun Energy Company Revenue (2014)

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