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Successful in the global economic recession

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Reference no: EM133090332

PetroChina is China's largest oil company, is performing very well in the global recessionary environment. In 2010 it won the approval of Canadian government for its 1.8 billion bid to buy a stake in two Alberta oil-sands projects in biggest North American Acquisition, Chinese oil companies have spent 13 billion on overseas assets Since December 2009, taken advantage of lower valuations caused by economic slow down. PetroChina plans to boost acquisition after paying 3.6 billion this year to buy Singapore Petroleum Corp, a stake in Nippon Oil Corp plant and venture in Kazakhstan.

Explain how PetroChina has been successful in the global economic recession. Which of the strategies has generated the most gains the company.

Reference no: EM133090332

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