China’s oil industry is undergoing a serious makeover ...News

China’s establishment of a national pipeline network, PipeChina, last October is creating a shift in China’s oil and gas industry, which aims to create greater competition and encourage new players in the sector. PipeChina acquired the oil and gas pipeline assets, storage facilities, and import terminals of the three state-run firms, China National Petroleum Corp. (CNPC/PetroChina), China Petrochemical Corp. (Sinopec), and China National Offshore Oil Corp. (CNOOC) upon its creation last year in an attempt to make the industry more efficient.   PipeChina acquired PetroChina’s Kunlun Energy Co. stakes, giving it a 60 percent share in its

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