China's state-owned petroleum company PetroChina Co. Ltd. (PCCYF) on Tuesday proposed to acquire three natural gas storage facilities from its controlling shareholder, state-owned China National Petroleum Corp., in a deal valued at 40.02 billion Chinese yuan or $5.59 billion.
The proposed acquisition involves the entire equity interest in Xinjiang Gas Storage facility for 17.07 billion yuan, Xiangguosi Gas Storage facility for 10.0 yuan and Liaohe Gas Storage facility for 12.96 billion yuan.
The proposed deal will ensure the stable operation and high-quality development of the Company's natural gas industrial chain. It will add 10.97 billion cubic meters of working gas storage capacity.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.