CNPC invests US$146 million in ethanol fuel in 2009

China National Petroleum Corp. (CNPC), China’s largest oil company, has invested 1 billion yuan (US$146.48 million) in ethanol fuel production as of the end of 2009, according to statistics released by the company. CNPC controls an ethanol plant in Jilin province capable of producing 500,000 tons of ethanol a year, the largest ethanol plant in the country. The plant has produced 2.17 million tons of ethanol fuel since operations began in 2001, which it sells in northern and central China. CNPC plans to expand its coal bed methane (CBM), fuel ethanol and oil sands operations, as these three areas are closely related to its primary business of oil and gas production, the company said in late February. (March 22, 2010)