March 5, 2014 / 1:40 AM / 3 years ago

China's CNPC setting up platforms to invite private investment

SHANGHAI, March 5 (Reuters) - China National Petroleum Corporation (CNPC) will set up new business platforms and invite joint investments from the private sector to develop the country's energy sector, its chairman said on Wednesday.

Zhou Jiping said state-controlled CNPC will establish up to six business platforms to seek joint cooperation to build pipelines, develop unconventional gas resources and untapped reserves as well as overseas investments.

The firm also plans to open up its refining business, Zhou told reporters at the sidelines of the annual parliamentary session in Beijing. (Reporting by Chen Aizhu; Writing by Fayen Wong; Editing by Ed Davies)

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