As British Petroleum struggles, PetroChina eyes unthinkable
Priyanka Mathur
Jul. 11, 2010

Can PetroChina really control the financials of BP? The issue was unthinkable last year, not today, says some analysts.

PetroChina is China’s largest listed oil and gas producer. It has said ''welcome'' to BP for a closer cooperation as BP needs money to stay in Business.

Gulf of Mexico oil spill disaster has created havoc in BP's balance sheet and profit & loss account.

Chinese oil and gas companies are hungry for ''worthwhile'' acquisitions. Chinese energy companies pent billions of dollars on overseas have spent billions of dollars in lucrative acquisitions since 2007. Some of the example are : Sinopec’s $5 billion investment for a stake in a Canadian oil sands project and CNOOC’s $3 billion investment in Bridas.

As British Petroleum struggles, PetroChina eyes unthinkable
Priyanka Mathur
Can PetroChina really control the financials of BP? The issue was unthinkable last year, not today, says some analysts.
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With 45% export rise, China’s external surplus might balloon again in the second half of the year
Peter Oberois
Chinese exports spiked according to recent data by 45%. This leads to the speculation that China’s external surplus might balloon again in the second half of the year.
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China's state run communist labor union demands 2 per cent payroll tax to fund labour activities from world’s largest investment banks
Sandra Johansen
Call it a type of extortion or a business deal to do business in China, the fact is that money has to be paid to the communist labor union to says and profit in China.
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Tania Harding
That is the million dollar question that even Google does not know.
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Asian stocks fell, dragging the MSCI Asia Pacific Index lower
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The slower-than-estimated expansion by U.S. service industries underscored concern global growth is faltering.
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BP plans sell of assets, US Administartion watches closely
Sandra Johansen
The financial strength of the British Oil company is in big question. They may face a massive debt forcing some kind of massive restructure.
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The current global recession is led by collapse in Chinese real estate market
Tania Harding
Harvard University professor and former chief economist of the International Monetary Fund Kenneth Rogoff says China’s property market is beginning a collapse that will hit the nation’s banking system.
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Asia, Europe, Ameircan stocks decline on global recession concerns
Peter Oberois
Double dip is what is worrying the stock markets at this stage. The yen increased against the euro and US Treasuries advanced.
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