CNPC to Expand Sino-Kazakhstan Crude Oil Pipeline

April 10, 2013

Recent reports suggest that PetroChina Co., Ltd. (00857: HKG; 601857: SHA; PTR: NYSE)’s parent company, China National Petroleum Corporation (CNPC) has signed an agreement with KazMunayGas to expand China-Kazakhstan crude oil pipelines, ChinaScope Financial reports. Details of the agreement have yet to be disclosed to the public.

As China's first outbound crude oil pipeline, Sino-Kazakhstan crude oil pipeline had transported over 50 million metric tons of crude oil inbound as of the end of 2012. According to CNPC, the pipeline’s oil transportation capacity is expected to be greatly improved this year.

Copyright 2013, ChinaScope Financial . All rights reserved.