Greater China

CNPC open to private investors

Beijing: China’s largest state-owned oil and gas industry player, China National Petroleum Corporation (CNPC), plans to open pipeline, oil and gas development to private investors, said Zhou Jiping, chairman of CNPC in Beijing.

The company will consider investment from private sectors to build pipeline, explore gas and oil resources and relevant facilities.
"Such a plan will be executed category by category," said Zhou, with overseas exploration and production also a possibility for joint investment.

However, the chairman didn’t reveal to what level the state-owned company would like to share with private investors.
Li Keqiang, premier of China said the same day during the annual parliamentary session that China is welcoming non-state investment in oil and gas resource exploration and other sectors. [06/03/14]

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