China's CNPC to cut 2016-2020 annual investment by around 40 pct - state media

BEIJING, July 27 (Reuters) - China National Petroleum Corp

(CNPC) will cut its annual investment between 2016 and 2020 to

about 260 billion yuan ($39 billion), down around 40 percent

from the 2011-2015 period, state media said on Wednesday.

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