North American exodus at PetroChina sparks speculation of company shift

23 Aug 2017   China, North America

A flurry of departures across the U.S. and Canadian units of Chinese state energy firm PetroChina Co Ltd ┬áhave sparked speculation that the oil trader is reducing its presence in North America, even though the company says it is committed to the region. More than 30 people in its Houston and Calgary offices have left PetroChina since 2016, including heads of desks in crude, financial, natural gas and chemical trading, the company confirmed to Reuters. Sources say that PetroChina had approximately 150 to 200 people at its peak two to three years ago, and now has between 100 and 150. Nearly a dozen sources in New York, Calgary, Houston and Singapore, including current and former employees, told Reuters the departures suggest a shift in mindset […]

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