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PetroChina's $2.4 Billion Sale Mixes Profits With Overhaul

Updated on
  • Trans-Asia divestment is company's first major sale since 2013
  • Shares in Hong Kong rise as much as 1.9% to 2-week high

PetroChina Co. rose to a two-week high after announcing plans to sell pipeline stakes for as much as 15.5 billion yuan ($2.4 billion) as the nation’s biggest oil and gas producer seeks to meet year-end profit targets amid a drive to reform state-owned enterprises.

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