The Annual Equipment of Pipeline and Oil &Gas Storage and Transportation Event
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China National Petroleum Corp., the country's largest oil and gas producer by output, said Monday that it plans to sell CNY20 billion (US$3.2 billion) worth of bonds on the interbank market on Wednesday.
The bonds will be evenly split between two maturity dates: seven years and 15 years, the company said in a statement posted in the state-run China Securities Journal.
The proceeds from the sale will be used to finance the construction in China of an east-west gas pipeline and supplement its working capital, it said.
China National Petroleum Corp. is the parent company of New York-, Hong Kong- and Shanghai-listed PetroChina Co.
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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