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Sources have said that CNPC-owned PetroChina is setting up its first office in South Asia to look for business opportunities in oil and liquefied natural gas. The move is seen as Chinese oil major’s strategy of expanding its role in overseas markets. According to the Indian Ministry of Corporate Affairs website, the company was listed as PetroChina International (India) in July with a total paid-up capital of $444,000 in Mumbai.
