Petro-Canada sold Syrian-producing assets for $582 million
Posted: 06 February 2006
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Petro-Canada sold its Syrian-producing assets for $582 million (Euro 484 million) to a joint venture owned by India's Oil and Natural Gas Corporation (ONGC) Limited and the China National Petroleum Corporation (CNPC).
The sale is retroactive to July 1, 2005. Subject to business conditions and opportunities, Petro-Canada expects to use the majority of the proceeds from the sale to buy back shares within its ongoing Normal Course Issuer Bid programme.
Posted by Editor Pipeline Magazine
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