PetroChina Establishes New Joint Venture in Shanghai

Deep News06-11

State-owned energy giant PetroChina Company Limited (ASX: 601857) has formed a new company.

According to corporate registry information, Shanghai Kunging Gas Turbine Technology Co., Ltd. was officially established on June 2nd, with Jia Ming serving as its legal representative. The company has a registered capital of 25 million yuan.

Its business scope encompasses a variety of technical services, including development, consultation, exchange, transfer, and promotion. It also covers the manufacturing of steam turbines and auxiliary equipment, the processing of mechanical parts and components, the production of generators and generator sets, and the manufacturing of general equipment (excluding special equipment). Additionally, the company is involved in metal cutting services and the research and development of new energy technologies.

The new entity is a joint venture between Shanghai Lianqing Power Technology Co., Ltd., which holds an 80% stake, and China Petroleum Group Kunlun Manufacturing Co., Ltd., which holds the remaining 20%.

Shanghai Lianqing Power Technology is a holding company of the Shanghai state-owned enterprise Shanghai United Investment Co., Ltd. China Petroleum Group Kunlun Manufacturing is a wholly-owned subsidiary of China National Petroleum Corporation (CNPC), the parent company of the listed PetroChina Company Limited (ASX: 601857).

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