China National Petroleum Corp. (CNPC) has mapped out a development plan for its new energy business and bio-energy business, aiming to focus on coalbed methane (CBM), fuel ethanol and oil sands which are related to its main business. "We may adjust the plan with changing situations, and the plan did not involve specific investment budgets or other targets," a CNPC executive close to the plan said. "These three new energy sources are relatively close to petroleum, the company's main business.
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