OREANDA-NEWS. September 13, 2011. China National Petroleum Corp. plans to sell CNY20 billion (USD 3.1 billion) worth of 10-year bonds on the domestic interbank market in the near term, a person familiar with the situation said.

The country's largest oil company by assets will use the proceeds to finance China's West-East gas transmission project and to supplement working capital, said the person, who declined to be named.

China Galaxy Securities Co. is the lead underwriter of the deal, the person added.