Biodiesel and Ethanol Investing

Xinhuanet reports that the China National Petroleum Corp. (CNPC) is planning to wade into the South Korean renewable energy business through a merger and acquisition with a local company. The CNPC, based in Shanghai, is China’s largest oil and gas producer and supplier, posting a market cap amounting to $397.8 billion and a net profit of $16.5 billion as of the end of July, 2009.