(Bloomberg) -- Shares of PetroChina Co., the nation's largest oil producer, jumped after the company announced an oilfield discovery that may be East Asia's largest in 33 years.
The stock climbed 12 percent, the biggest gain since the company's initial public offering in 2000. The deposit in eastern China's Bohai Bay has an estimated 1.02 billion metric tons of oil equivalent (about 7.5 billion barrels), Beijing- based PetroChina said in a statement late yesterday.
Read more at Bloomberg Emerging Markets News
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