China National Petroleum Corp (CNPC), the county's largest integrated oil and gas company, invested RMB 1.4 billion in an oil refining project in Qinzhou, Guangxi Province in the first quarter of this year, sources reported.

The refining project, located in an economic and technological development zone of Qinzhou, has received funds of RMB 10.35 billion in total, of which RMB 96.5 million was provided for pipeline construction for refined oil transportation.

The project has an estimated oil refining capacity of 10 million tons per year and has invested in excess of RMB 800 million for environmental protection, sources reported.