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PetroChina to take on global rivals in major expansion drive

Its oil and gas trading arm aims to have a foothold in emerging markets and grow market share locally

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PetroChina's logo seen at a petrol station in Beijing. Chinaoil, PetroChina's trading vehicle, aims to buy petrol stations and fuel storage facilities, setting up business in West Africa, Brazil and Pakistan. This mimics the recent moves made by top oil merchants Vitol and Trafigura.

Beijing

PETROCHINA'S oil and gas trading arm aims to buy petrol stations and fuel storage facilities, setting up business in West Africa, Brazil and Pakistan in a major global expansion aimed at taking on international rivals, according to three senior oil...

sentifi.com

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