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An announcement from Petro-king Oilfield Services Ltd. ( (HK:2178) ) is now available.
Petro-king Oilfield Services Ltd. has entered into a Framework Sale and Purchase Agreement with Petro-king Energy Group, effective retrospectively from January 1, 2025, to December 31, 2027. Under this agreement, Petro-king’s PRC Subsidiaries will purchase well completion, production enhancement, and drilling products from Petro-king Energy Group, with annual transaction caps set at RMB20,000,000. This agreement, involving connected persons under the Listing Rules, requires compliance with reporting and approval processes due to its financial scale, impacting the company’s operational strategy and regulatory obligations.
More about Petro-king Oilfield Services Ltd.
Petro-king Oilfield Services Ltd. operates in the oilfield services industry, providing well completion products, production enhancement products, and drilling products. The company focuses on enhancing oilfield operations and efficiency, serving a market that demands advanced technological solutions for oil extraction and production.
Average Trading Volume: 2,715,820
Technical Sentiment Signal: Sell
Current Market Cap: HK$81.15M
Learn more about 2178 stock on TipRanks’ Stock Analysis page.