UPDATE 1-Buffett cuts PetroChina stake, sells 17 mln shares

(Reuters) - Buffett's stake in the total company, taking into account
the untradable shares held by PetroChina's parent, China
national Petroleum Corporation, amounts to about 1.29 percent
after the share sale.




Buffett, the world's second-richest person, sold the shares
on July 12 at between HK$12.44 and HK$12.46 each, the HKEX Web
Site showed.


Read more at Reuters.com Mergers News

PetroChina First-Half Oil, Gas Output Climbs 3.7 Percent on Rising Demand

(Bloomberg) -- PetroChina Co.'s first-half
production increased 3.7 percent as the nation's largest oil and
gas producer intensified efforts to meet rising energy demand.

Crude oil and gas output rose to the equivalent of 3.05
million barrels of oil a day, the Beijing-based company said
today. Oil production gained 0.1 percent from a year earlier,
while gas jumped 16.5 percent.


Read more at Bloomberg Energy News

PetroChina May Raise $6 Billion in Shanghai Share Sale to Fund Expansion

(Bloomberg) -- PetroChina Co. is planning the
nation's biggest share sale this year to raise as much as $6
billion in Shanghai for overseas acquisitions, increased oil
drilling and refinery construction.

The stock rose 5 percent in Hong Kong on expectations the
revenue will help develop the nation's largest oil find in almost
50 years. Beijing-based PetroChina, which said today it plans to
offer a maximum of 4 billion shares, overtook Royal Dutch Shell
Plc as the world's second-largest oil company by market value.


Read more at Bloomberg Energy News