Keppel to sell stake in Singapore Petroleum to PetroChina
Keppel Corp. said Sunday it is selling its 45.51% stake in Singapore Petroleum Co., or SPC, to PetroChina Co. for S$1.47 billion.
PetroChina is in talks with potential investors to sell minority stakes in its projects, in a bid to ease its tight cash-flow position and mounting debt burden amid state control on fuel prices.