CNOOC Transfers Pipeline Infrastructure to PipeChina

Muyu Xu and Shivani Singh
Thursday, April 2, 2020

China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.

The statement did not give details on what projects have been handed over.

China set up its long-awaited national oil and gas pipeline company in December to run pipeline infrastructures that had been controlled by China National Petroleum Corp (CNPC), Sinopec and CNOOC.

PetroChina, a listed arm of CNPC, also said it was trying for a deal with PipeChina on the transfer of pipeline assets and no agreement had been reached as of late March. 

(Reporting by Muyu Xu and Shivani Singh; Editing by Shounak Dasgupta)

Categories: Energy Pipelines Activity Asia China

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