CITIC Resources

CITIC Resources Holdings Limited (<a href="/facts/Simplified_Chinese_characters/UcAD6xXs">Chinese</a>: 中信资源控股有限公司; <a href="/facts/Pinyin/pUwjfMXg">pinyin</a>: Zhōngxìn Zīyuán Kònggǔ Yǒuxiàn Gōngsī), a <a href="/facts/Subsidiary/l25YN38x">subsidiary</a> of <a href="/facts/CITIC/ASszP8H2">CITIC</a> Group in <a href="/facts/China/lTjIXY5p">China</a>, is an integrated provider of <a href="/facts/Natural_resources/w9WXxMx3">natural resources</a> (including <a href="/facts/Petroleum/IQV0bHVd">petroleum</a>, <a href="/facts/Coal/83kV3qxg">coal</a>, <a href="/facts/Metals/PT8hNX6R">metals</a>) particularly petroleum business.
In 2007, CITIC Resources paid US$1.15 billion for <a href="/facts/Oil_fields/wYoSQmGN">oil fields</a> in <a href="/facts/Kazakhstan/Vfs8NI6e">Kazakhstan</a> and <a href="/facts/Northeast_China/d679urKB">Northeast China</a> from its <a href="/facts/Parent_company/nBGIp6rU">parent company</a>, 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 <a href="/facts/Petrochina/XaI1xSIx">Petrochina</a>, <a href="/facts/Sinopec/TEr4Qo6k">Sinopec</a> and <a href="/facts/CNOOC/wfmLENIr">CNOOC</a>.

CITIC Resources open-in-new

CITIC Resources