PetroChina, China's biggest oil company, is in talks about making its first move into refining in Europe, discussing an investment in the Ineos refinery at Grangemouth in Scotland, according to local politicians.
Ineos, a heavily-indebted private chemicals group, has been in talks with several other companies about investing in Grangemouth.
Angus MacDonald, a Scottish National party councillor, said an Ineos manager had confirmed at a community meeting on Tuesday that PetroChina, the world's biggest company by market capitalisation, was one of the companies involved in the talks.
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