CITIC Resources

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CITIC Resources Holdings Limited
中信資源控股有限公司
Type State-owned enterprise (Red chip)
Industry Natural resources
Founded 1997
Headquarters Hong Kong, People's Republic of China
Area served People's Republic of China
Key people Chairman: Mr. Mi Zengxin
Parent CITIC
Website CITIC Resources Holdings Limited

CITIC Resources Holdings Limited (SEHK1205), 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]

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