PetroChina International Co., Ltd. Completes Delivery of Equity in Brazil's TT Work

On August 29 of Brazil time, PetroChina International Co., Ltd. formally signed an equity delivery document and a shareholder agreement with Brazil's TT Work to acquire a 30% stake in the company.

TT Work is Brazil's fifth largest refined products distributor, with business covering more than 2,800 gas stations in Brazil. Upon completion of the equity delivery, PetroChina International Co., Ltd. officially obtains the import share of the company's refined products and a stable distribution channel for refined products, and will become an important player in the refined products market in Latin America.