China National Petroleum Corporation and Shandong Yinhoo Investment establish a new energy development company.

Qichacha APP shows that recently, China Petroleum Energy Development Co., Ltd. was established with a registered capital of 92 million yuan. Its business scope includes petroleum and natural gas technical services, energy storage technical services, engineering technical services, etc. Through equity penetration displayed on Qichacha, the company is jointly held by China Petroleum & Natural Gas Group Co., Ltd.'s wholly-owned subsidiary China Petroleum Group Gas Storage Co., Ltd. and Lu Yin Investment.