Feb. 10, 2010 (Chinavestor) Petrochina Co. Ltd. 中國石油天然氣股份有限公司 (HKG: 0857)(NYSE:PTR), the largest integrated oil company in China, announced the issuance of the first batch of medium-term debt. The company received a total of RMB 11 billion ($1.276 billion) on February 8, 2010 with interest rate of 4.60%, fixed rate. Underwriter is CITIC Securities Co. (SHA:600030) and China Construction Bank (HKG:0939) (SHA:601939).China's oil triumvirate is working hard to secure energy for the world's second largest energy market. CNOOC Ltd. (HKG:0883) NYSE:CEO) and China Petroleum & Chemical Corp. (HKG:0386) (NYSE:SNP) have been increasingly active in overseas acquisitions. Petrochina (NYSE:PTR) is expected to use some of the proceeds for expanding overseas as well. Petrochina Co. is the largest Chinese oil producer but oil fields are aging in China and needs to tap foreign markets to spur growth. Petrochina's main foreign fields are in Sudan, Angola, and Kazakhstan.
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