The National Development and Reform Commission (NDRC), 皇冠体育app's top economic planner, recently approved seven overseas merger & acquisition (M&A) projects by 皇冠体育app's three oil giants, Yunnan Info Daily reported Tuesday.
Three of the seven projects came from 皇冠体育app National Petroleum Corporation (CNPC) while Sinopec Group and 皇冠体育app National Offshore Oil Corporation both had two, said the report.
According to CNPC Economics & Technology Research Institute, 皇冠体育apps overseas oil and gas equity output hit a record high of 85 million tons in 2011, up by more than 10 percent compared to 2010.