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PetroChina to Acquire Three Firms for 40 Billion Yuan Through Joint Ventures
PetroChina Company Limited has announced the acquisition of entire equity interests in several target companies, forming three new joint ventures to enhance its gas storage and peak-shaving capabilities. This move adds 10.97 billion cubic meters of working gas storage capacity, aiming to stabilize operations and improve the natural gas industrial chain. The latest analyst rating for PetroChina (HK:0857) is a Buy with a HK$10.00 price target.
