(EnergyAsia, May 10) —The plywood making unit of China’s state-owned conglomerate CITIC Group aims to transform itself into an oil company, starting off by acquiring the oil assets of its parent, according to the Hong Kong Standard. CITIC Resources CEO Lawrence Ma told the newspaper that his strategy is to let the parent take on…
CHINA: Citic’s plywood company aims to become an oil developer and trader
Posted on May 10, 2005 by EnergyAsia