Mar 28, 2024 07:39 PM

BUSINESS

PetroChina Seeks to Shape Up Its Lackluster Overseas Business

By Wen Simin and Ding Yi

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What’s new: State-owned energy giant PetroChina Co. Ltd. (601857.SH) (中国石油天然气股份有限公司) will focus more on offshore drilling and countries involved in the Belt and Road Initiative, an executive said, as the company looks to improve its lagging overseas oil and gas business amid a wave of consolidation.

PetroChina aims to “increase the return on investment from its overseas business,” Senior Vice President Zhang Daowei said Wednesday.

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