Shanghai-based Chinese steelmaker Baosteel has inked a framework agreement with state-owned China National Petroleum Corporation (CNPC) regarding cooperation in international goods and services procurement, following the previous strategic procurement agreement signed between the two sides in 2012.
Accordingly, the two sides plan to deepen their overall cooperation and establish a long-term partnership in the fields of pipes for petroleum pipelines and HFW/UOE line pipes, while cooperating in developing international markets.