PetroChina, China Railway Construction form JV

PetroChina and China Railway Construction Corp. (CRCC) have founded a joint venture (JV) to sell oil products throughout the country, according to PetroChina. The two companies will both hold a 50% stake in the JV. Under the terms of the agreement, PetroChina will firstly ensure petroleum products supplies to the CRCC, which in return will provide convenient transportation to PetroChina. (February 4, 2010)