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Nikkei Markets

Kunlun Energy To Sell Crude Exploration Unit For $11.2 million To CNPC Unit

By Benny Kung
Nikkei Markets
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;; +85239605153
- Edited by Suzannah Benjamin
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- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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