CITIC Resources Holdings Limited 中信资源控股有限公司 | |
Type: | State-owned enterprise (Red chip) |
Traded As: | HKEX: |
Foundation: | 1997 |
Location City: | Hong Kong |
Key People: | Mi Zengxin (Chairman) |
Area Served: | People's Republic of China |
Industry: | Natural resources |
Parent: | CITIC |
CITIC Resources Holdings Limited, a subsidiary of CITIC Group in China, is an integrated provider of natural resources (including petroleum, coal, metals) particularly petroleum business.[1]
In 2007, CITIC Resources paid US$1.15 billion for oil fields in Kazakhstan and Northeast China from its parent company, 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 Petrochina, Sinopec and CNOOC.[2]