CNOOC Transfers Pipeline Infrastructure to PipeChina

April 2, 2020

Image By Igor Golovnev - AdobeStock
Image By Igor Golovnev - AdobeStock

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)



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