PetroChina May Raise $5.6 Billion in Shanghai Share Sale to Fund Expansion

(Bloomberg) -- PetroChina Co., the country's biggest
oil company, plans to sell as many as 4 billion shares in
Shanghai, which may raise 43 billion yuan ($5.6 billion), based
on the company's share price in Hong Kong.

The proceeds of the Shanghai listing will be used to expand
the company's petroleum and gas businesses, PetroChina said in a
statement published in Hong Kong's South China Morning Post
newspaper today.


Read more at Bloomberg Energy News

Warren Buffett Turns Tables on PetroChina Dissident

Berkshire Hathaway Inc.'s Warren Buffett turned the tables on a shareholder who called on him to sell shares of PetroChina Co. because its government-owned parent operates in a nation accused of genocide.

Read more at Bloomberg.com