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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World PetroChina open to closer ties with BP AFP - Monday, July 12 Send IM Story Print PetroChina open to closer ties with BP BEIJING (AFP) - – Chinese oil giant PetroChina has said it would "welcome" closer ties with BP as the British energy group battles to contain the massive oil leak in the Gulf of Mexico, a report said Monday. Mao Zefeng, head of investor relations at PetroChina, told the Financial Times that the company's first reaction to BP's problems in the Gulf of Mexico was to see how it could "help BP to quickly fix the problem". "We contacted them to see if there is anything we can help with in terms of engineering or technical help," Mao said. The official declined to discuss possible financial assistance, saying: "We have no comment on market rumours. But if there was some opportunity to work more closely together, we would welcome that." Mao and other officials at PetroChina were not immediately available to comment on the report. Chinese energy companies have this year invested billions of dollars on overseas acquisitions, including a deal by China's top refiner Sinopec in April to acquire a stake in a Canadian oil sands project for 4.65 billion dollars. PetroChina -- which is listed in New York, Hong Kong and Shanghai -- said in May that it would invest 60 billion dollars abroad over the next decade in order to secure much-needed resources to fuel China's red-hot economy. BP acquired a stake in PetroChina when it went public in 2000. In 2004, it sold those shares, which at the time accounted for a two percent equity stake, according to statements from the two companies. The two firms have a joint venture to operate petrol stations in the southern province of Guangdong. The Financial Times said PetroChina was unlikely to make a full bid for BP due to political considerations but could invest in further joint ventures. Recommend Send IM Story Print Related Articles China tycoon bids to be Prada's biggest shareholder AFP - 22 minutes ago S&P says political hurdles to Japan fiscal reform Reuters - 26 minutes ago Russia rouble rises as bank clients buy Reuters - 31 minutes ago European shares edge higher early; earnings eyed Reuters - 37 minutes ago China stocks end at 2-wk high; banks, property up Reuters - 39 minutes ago News Search Top Stories Fiesta in Spain, agony in Netherlands after World Cup final European banks mull 20-bln-euro private bailout fund Football: Casillas true hero as Iniesta steals headlines Spain win seals perfect eight for 'psychic' octopus Spain, Holland go to extra-time in World Cup final More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended European probe Rosetta flies by asteroid: ESA Bahamas police capture 'Barefoot Bandit' Spain win seals perfect eight for 'psychic' octopus Football: Casillas true hero as Iniesta steals headlines Remote Easter Island braces for total solar eclipse More Most Viewed » Reclusive top mathematician turns down prize, again Germany's 'Octopus oracle' keeps perfect record Aussie men shoot each other in buttocks 'to see if it hurts' Amputee cat gets bionic legs Fans gather for Michael Jackson death anniversary More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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