Date
15 August 2018

CNPC has no plans to spin off pipeline segment, paper says

China National Petroleum Corporation (CNPC) does not plan to spin off its natural gas pipeline business in the near term, China Business News reported Friday, citing multiple sources from the oil and gas giant. The sources cited the complicated organizational structure of the natural gas pipeline segment, which involves sub-branches and subsidiaries of the group, making it difficult to be separated as a single entity, the report said. Moreover, the pipeline business requires massive capital investment and has unstable profit contributions, thus presenting major difficulties to any entity that will take over and manage it, the sources added.

– Contact HKEJ at [email protected]

EL/AC/CG

 

 

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