Financial Times FT.com

Buffett cuts PetroChina stake for third time

By Sep 20 11:36:36

Investment guru Warren Buffett’s Berkshire Hathaway sold $41m worth of shares in PetroChina Co on September 6, making the fund’s third sale of stock in Asia’s top oil and gas producer announced in two months.

Berkshire sold just over 28m shares at an average price of HK$11.47 apiece, trimming its stake in PetroChina to 8.93 per cent from 9.07 per cent of the firm’s free-floating shares, according to data compiled by the Hong Kong stock exchange and released on Thursday.

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