China National Petroleum Corp. Gets A $30 Billion Loan

china gasoline gas oil CNPC

China National Petroleum Corporation is getting a $30 billion loan from the China Development Bank to go buy more oil, Bloomberg reports.

As we detailed yesterday, China is buying up all the world’s resources. It is especially focused on getting oil. This year it’s spent $12 billion buying up oil fields and refineries in Canada and Singapore.

Related: Here’s How China Is Buying The World

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