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CNPC will not inject Sudan into PetroChina-source

Author: Reuters, Published on: 21 April 2005

China National Petroleum Corp (CNPC) will leave its oilfields in politically risky Sudan out of the assets it plans to inject into its flagship listed unit PetroChina, a source close to the plan said... Analysts have expressed concerns that an injection of CNPC’s Sudan assets would increase PetroChina’s risk profile. A two-year old armed rebellion in Sudan has left 5.5 million people in need of food aid there, according to the United Nations, and the United States has been pushing for U.N. sanctions against its oil industry.

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Related companies: China National Petroleum Corporation (CNPC) PetroChina (part of China National Petroleum Corporation)