Petrochina eyes move to Dubai

Petrochina plans to sets up an energy trade desk in Dubai, Reuters has reported, citing industry sources. The firm is also considering the option of either acquiring or building an oil terminal facility in the country, once source said. 'They are now looking at setting up an office here, they are in that process of getting the logistics in order,' a Middle East based trader told the news service. 'Initially they will have three crude traders, and then the office will likely expand, but they haven't really showed their cards as to what they will be doing here.'