Petrochina leaning towards public listing of oil and gas pipelines
“Timing is unclear,” but management is in favor of spinoff
Seeking Alpha reports that PetroChina is considering publicly listing oil and gas pipelines in a US$85 billion spinoff.
Analysts from Bernstein and Jeffries tell Bloomberg that the management is leaning towards such a spinoff, but “timing is unclear.”
Jeffries’ head of Asian oil and gas equities Laban Yu adds that monetizing pipeline assets is one of PetroChina’s only options to attract investors.