The Annual Equipment of Pipeline and Oil &Gas Storage and Transportation Event
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Gas distributor China Gas Holdings Ltd (0384.HK) plans to buy London-listed Fortune Oil's (FOOI.L) gas business in China for HK$3.1 billion (247.5 million pounds), sources with knowledge of the deal said on Monday.
The deal is part of an asset restructuring at China Gas, the sources said. They declined to be identified as they were not authorised to speak to the media.
Shares of China Gas was suspended on Monday morning. Both China Gas and Fortune Oil declined to comment.reuters.com
Along with the rapid development of China's energy industry, China Oil & Gas Pipeline network is experiencing unprecedented great structure, large-scale construction and giant leap. Read More >
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