Huaneng Power International Inc (NYSE: HNP, SHA: 600011, HKG: 0902), China's largest listed power producer, will spend a combined ¥1.2 billion ($1 = ¥6.7) purchasing a 50% stake in Huaneng Energy and Transport Co and a 30% stake in Hainan Nuclear Co. All of the three companies are subsidiaries of China Huaneng Group.
PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857) will build a one-million m3 (6.3 million barrels) crude oil storage facillity in Sichuan's provincial capital Chengdu, said its parent CNPC. China commercial crude oil storage currently stands at 28 million tons, or 205 million barrels.
Chevron Co said it was planning to sell an 18% stake in its deepwater gas field in Indonesia to Sinopec Co (NYSE: SNP, SHA: 600028, HKG: 0386).
China Medical Technologies Inc (NASDAQ: CMED), a leading advanced in-vitro diagnostic company, said Monday that its wholly-owned subsidiaries, Beijing GP Medical Technologies Co and Beijing Yuande Bio-Medical Engineering Co, have been ranked 12th and 415th respectively in the Deloitte Technology Fast 500 Asia Pacific 2010 program. GP Medical operates the fast growing molecular diagnostic business of the parent, and Beijing Yuande operates the immunodiagnostic business of the parent.
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