Stock News: China Petrol signs new oil contract contract!

China Petrotech Holdings Ltd said that it has entered into an oilfield service contract with China Zhen Rong Cambodian Energy Co Ltd. Under the agreement, China Petrotech will provide technical advisory and project management services to China Zhen Rong's offshore oil project operations in Cambodia. China Petrotech said it will be paid a project management fee and a separate technical advisory fee for each consultancy project. "We expect this project to contribute to the revenue of China Petrotech group from the second half of 2006," China Petrotech executive chairman William Chan said in a statement.