The jump follows news that PetroChina, China's biggest oil producer, will buy 45.5 per cent of the Singapore refiner for S$1.47 billion, or S$6.25 a share, from Keppel Corp, 24 per cent higher than the last-traded price of S$5.04 at the May 22 close.

The transaction, when completed, will trigger a general offer for the remaining shares, the Beijing-based oil company said on Sunday.

Keppel Corp, the world's largest maker of oil rigs, climbed 4.6 per cent to close at S$7.28. PetroChina shares rose 1.9 per cent to 13.1 yuan at the close in Shanghai and fell 0.8 per cent to HK$8.32 in Hong Kong.

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