CHINA EYES NEW STRUCTURE FOR CNPC

China National Petroleum Corp. (CNPC) may be restructured in a bid to shake up oil and gas operations to match rapid growth in China's econoMY. World Bank has funded a 1 year study by management consultant Coopers & Lybrand, London, that will recommend a new structure for CNPC and a new regulatory framework. CNPC is the state company responsible for China's onshore oil and gas exploration and production. It has 1.4 million employees and accounts for almost all of China's oil