Domestic

PetroChina may make bid for China Gas

(Agencies)
Updated: 2011-04-08 13:12

HONG KONG - PetroChina Co Ltd, the world's second-biggest oil and gas producer by market value, is considering a bid for troubled natural gas distributor China Gas Holdings Ltd, Reuters reported Friday, citing the Financial Times.

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PetroChina was working with Bank of America Merrill Lynch on the acquisition, although it had not been formally mandated, the Financial Times quoted unidentified sources as saying.

PetroChina could buy China Gas on its own or acquire it through its natural gas unit Kunlun Energy Co Ltd, the Financial Times said.

PetroChina officials in Beijing declined comment.