CPC signs MOU with CNPC

State-run CPC Corp. signed a memorandum of understanding (MOU) with China National Petroleum Corp. (CNPC) on cross-strait oil and gas exchange and cooperation, the Taipei-based company said in a press statement. CPC President Chu Shao-hua signed the pact with his Chinese counterpart, CNPC General Manager Jiang Jiemin, in Beijing. Based on the three-year pact, the two companies will expand current cooperation in the areas of upstream exploration and development, refinery and petrochemical engineering, energy savings and emission reductions, marketing and business management, overseas gas and oil businesses, as well as trading in oil products. (June 19, 2010)