PetroChina Vows Global Expansion as Price Controls Curb Profit

PetroChina Co., Asia’s biggest company by market value, pledged to step up acquisitions and boost cooperation with global oil companies after profit growth slumped because of state controls on fuel prices at home.

“PetroChina will continue to expand globally,” President Zhou Jiping said at an earnings briefing in Hong Kong yesterday. “We will boost profitability at existing projects and seek new opportunities around existing ventures in Central Asia, the Middle East, Africa, the Americas and the Asia-Pacific.”

Read more at Bloomberg