CNPC to invest RMB10 billion in new fuels
China's largest producer and supplier of oil and gas China National Petroleum Corporation (CNPC, is planning to invest RMB10 billion (€1 billion) in the development of new energy sources in 2020, according to reports.
The news comes after the corporation's vice president Hu Wenrui posted on an forum that CNPC will be looking into the production of ethanol and biodiesel, in addition to hydraulic oil and coal bed gas.