POLY-GCL Petroleum Group Holdings to Be Listed

According to sources, POLY-GCL Petroleum Group showed that it had signed the Natural Gas Pipeline Project Development Agreement with the African country Djibouti. The government of the country has agreed that POLY-GCL Petroleum Group can build a natural gas pipeline in Djibouti and the investor will be responsible for the specific implementation of the petroleum pipeline development project. Which means the large-scale natural gas project of POLY-GCL Petroleum Group in Ethiopia makes great progress. It is worth noting that if the project is finally successfully concluded, POLY-GCL Petroleum Group may become the fifth-largest oil and gas producer in China, with an annual oil and gas output more than 10,000kt, which is lower than that at PetroChina, Sinopec, CNOOC and Yanchang Petroleum (Group). Besides, sources say that POLY-GCL Petroleum Group is preparing to be listed, and the related works of IPO will start at the end of 2018.