China's CNPC sets $1.5B new energy development budget for 2011-20

June 13, 2011 |

In China, the China National Petroleum Corporation will invest a whopping 10 billion Yuan (1.5 billion USD) in new energy development by 2020. The investment will go towards programs in ethanol fuel, biodiesel, geothermal resources, hydraulic oil, oil gas, and coal bed gas.

CNPC is the largest integrated oil and gas company in China, but hopes to widen its portfolio with diversified sources.

Category: Fuels

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