China combines three oil pipeline networks into a single operator in much-anticipated merger to improve efficiency in state sector

//China combines three oil pipeline networks into a single operator in much-anticipated merger to improve efficiency in state sector

China combines three oil pipeline networks into a single operator in much-anticipated merger to improve efficiency in state sector

China has combined the oil pipelines operated by the nation’s three state-owned energy companies into a single network, in a long-anticipated consolidation to improve efficiency and ensure adequate supply.The National Oil and Gas Pipeline Network Group was formally established on Monday in the Chinese capital, according to a notice by state news agency Xinhua.The new group would own 500 billion yuan (US$71 billion) in combined assets, and be responsible for managing a pipeline network that’s…

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By | 2019-12-09T07:16:59+00:00 December 9th, 2019|Headlines|Comments Off on China combines three oil pipeline networks into a single operator in much-anticipated merger to improve efficiency in state sector