China National Petroleum plans to spin off non-energy assets

The logo of CNPC (China National Petroleum Corporation) is pictured at the 26th World Gas Conference in Paris, France, June 2, 2015. REUTERS/Benoit Tessier/File Photo

China National Petroleum Corp. plans to spin off most non-energy assets — a portfolio comprising roughly 10 percent of its workforce — as low oil prices force the state-run behemoth to streamline, according to people with knowledge of the matter.

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