Shanghai-based Chinese steelmaker Baosteel has announced that it will invest in PetroChina Pipelines, the new platform for the pipeline operations of
China National Petroleum Corporation (CNPC), via its 12.8 percent stake in CNPC Northeast Refining & Chemical Engineering Co., Ltd (CNPCNE). Accordingly, Baosteel will hold a 3.52 percent stake in PetroChina Pipelines.