PetroChina Plans to Open First Of­fice in Mumbai

Chemical Industry Digest - - News & Views -

China’s top oil and gas pro­ducer, PetroChina is gear­ing up to open its first South Asia of­fice in In­dia to scout for busi­ness op­por­tu­ni­ties in oil and liq­ue­fied nat­u­ral gas, as they plan to trade oil prod­ucts and crude oil through In­dia. This can be seen as an­other sign of China ex­pand­ing its role in over­seas mar­kets af­ter years of build­ing re­fin­ing ca­pac­ity which would aid them in been boost­ing ship­ments of oil prod­ucts such as diesel to Europe, South Amer­ica and West Africa as they ex­pand their foothold out­side of China.

Ac­cord­ing to the in­for­ma­tion posted on the Min­istry of Cor­po­rate Af­fairs web­site, the com­pany was reg­is­tered as PetroChina In­ter­na­tional (In­dia) on July 17 with a to­tal paid-up cap­i­tal of 33 mil­lion ru­pees in Mumbai. PetroChina al­ready buys re­fined prod­ucts from Na­yara En­ergy and Re­liance In­dus­tries.

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