CITIC Resources

CITIC Resources Holdings Limited (Chinese: 中信资源控股有限公司; pinyin: Zhōngxìn Zīyuán Kònggǔ Yǒuxiàn Gōngsī), a subsidiary of CITIC Group in China, is an integrated provider of natural resources (including petroleum, coal, metals) particularly petroleum business.[1]

CITIC Resources Holdings Limited
中信资源控股有限公司
TypeState-owned enterprise (Red chip)
SEHK: 1205
IndustryNatural resources
Founded1997
Headquarters
Hong Kong
Area served
People's Republic of China
Key people
Mi Zengxin (Chairman)
ParentCITIC
Websiteresources.citic

In 2007, CITIC Resources paid US$1.15 billion for oil fields in Kazakhstan and Northeast China from its parent company, CITIC Group. This accelerated CITIC Resources to transform from metal producer to oil producer. It expects to be the fourth largest oil producer in China, following Petrochina, Sinopec and CNOOC.[2]

References
  1. "Corporate Profile of CITIC Resources Holdings Limited". Archived from the original on 2008-03-20. Retrieved 2008-05-17.
  2. Citic Resources to buy oil fields from parent company
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