China's "Petro-Yuan" Plans Will Be a "Wake Up Call": Fund Mgr.

The move toward creating a so-called "petro-yuan" will be a "huge story," Levinson, the founder and chief investment officer of Singapore-based Graticule, said in a Bloomberg Television interview on Tuesday.

Besides serving as a hedging tool for Chinese companies, the contract will aid a broader government agenda of increasing the use of the yuan in trade settlement, Levinson said. Chinese oil companies will probably be anchor investors in Saudi Arabia's initial public offering of its state oil company, Saudi Aramco, he said.