CNPC to speed up oil assets buy plan

China National Petroleum Corp (CNPC), the country's largest oil and gas producer, will speed up overseas acquisitions in regions such as Africa and South America this year, in a bid to boost China's quest for energy security.

Currently, the company is in talks with foreign partners for several deals, said a company executive yesterday, who asked not to be named.

"The relatively low prices of overseas assets this year have offered us unprecedented opportunities," he said, without elaborating.