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PetroChina cleared to buy Osaka refinery stake

Thu Jul 9, 2009 10:22pm EDT

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BEIJING, July 10 (Reuters) - China has given the go-ahead to PetroChina (0857.HK) to invest in Nippon Oil's (5001.T) Osaka refinery, the country's planning agency said on Friday.

PetroChina and Nippon Oil were expected to have finalised a deal by around the end of June for the Chinese oil major to buy 49 percent of the 115,000 barrels-per-day Osaka refinery, industry officials have said.

(Reporting by Chen Aizhu and Jim Bai; Editing by Jonathan Hopfner)



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