BEIJING, Nov.22 (Xinhua) -- China's gas supplier Sinoenergy Corporation (600856.SH) will cooperate with Xinjiang Zhongtai Chemical Co., Ltd. in gas and oil exploration projects and crude oil trade in Canada, according to an announcement by Sinoenergy on Wednesday.
According to their agreement, the two sides will combine their respective resources to invest in domestic and international oil and gas exploration projects through joint bidding or mergers and acquisitions, to expand business scale and improve profitability.
Sinoenergy Corporation has been engaged in overseas oil and gas exploration and resources import for many years, while Xinjiang Zhongtai Chemical Co., Ltd. is a state-owned company in the chemistry industry, mainly focusing on planning, design and construction of chlor-alkali, coal and petrol projects. (Edited by Li Wenxin, Yang Qi, liwenxin@xinhua.org)
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