Parent company increases stake in PetroChina

PetroChina Co., Ltd., the listed arm of the country's largest oil and gas producer, said Friday that its parent China National Petroleum Corporation (CNPC) has raised its stake in the company by nearly 0.02 percent to 86.3 percent.


CNPC has bought 31.08 million yuan-denominated A-shares in the company, accounting for 0.017 percent of PetroChina's total shares, said the company in a statement filed to the Shanghai Stock Exchange.


CNPC would also continue to buy shares of PetroChina on the secondary market in the next 12 months, but the total increase will not exceed 2 percent of the company's shares, it said.


CNPC also promised that it will not sell any shares in the next 12 months, said the statement.


The share price of PetroChina was up 0.83 percent to 10.97 yuan in Shanghai and jumped 3.8 percent to 10.94 Hong Kong dollars on the Hong Kong bourse on Friday.
(Source:http://news.xinhuanet.com)