By Benny Kung
HONG KONG (Jan 02) -- Oil and gas producer Kunlun Energy plans to sell its crude exploration and production unit in Azerbaijan for $11.2 million to China National Petroleum Corp. Kura.
CNPC International (Kura) is a unit of China's state-owned CNPC, which is Kunlun's controlling shareholder. The company will use the proceeds from the sale of Fortunemate Assets to expand its natural gas application business, it said in a statement to the Hong Kong stock exchange.
- By Benny Kung; benny.kung@NikkeiNewsrise.com; +85239605153
- Edited by Suzannah Benjamin
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