PetroChina poised to take on SPC

CHINESE giant PetroChina will acquire Singapore Petroleum Company after it completes the purchase of Keppel Corporation's 45.51% stake in the refiner for about 1.47 billion Singapore dollars ($A1.3 billion).

PetroChina said that once the acquisition of Keppel's stake in SPC was completed, it would make a general offer for the remaining shares in SPC.