China's petroleum giants, PipeChina in talks on asset deals

Time:2019-12-12 10:04:57      Source:Xinhuanet.com

Two state-owned petroleum firms announced that they are currently negotiating with the newly-established China Oil & Gas Piping Network Corporation (PipeChina) on asset restructuring or asset injection.

The China National Petroleum Corporation, the country's largest oil and gas producer and supplier, announced that it is in preliminary discussion with PipeChina regarding the possible asset injection.

The China Petrochemical Corporation, China's largest oil refiner, announced that it is in negotiation with PipeChina on the restructuring which may involve the relevant pipeline network assets of crude oil, natural gas and refined oil products of the company.

Set up on Monday, PipeChina will be responsible for the investment, construction and interconnection of main oil and gas pipelines to form a nationwide network, allowing the transport of crude oil, refined oil and natural gas through the network.

Index RMB/t DoD Basis Date
Datong 5500 700 0 ex-mine 05-04
Shuozhou 5200 680 0 FOR 05-04
Ordos 5500 700 0 ex-mine 05-04
Yulin 6200 780 0 ex-mine 05-04
Liulin Low-sulphur 900 0 ex-mine 05-04
Gujiao Low-sulphur 1770 -50 FOR 05-04
Xingtai Low-sulphur 2360 0 ex-Factory 05-04
Yangquan PCI 1280 -30 FOR 05-04
Index RMB/t WoW WoW% Date
Qinhuangdao 507.0 1.0 0.20 05-04
Caofeidian 541.0 9.0 1.69 05-04
Huanghua 216.9 12.4 6.06 05-04
Guangzhou 291.2 3.0 1.04 04-27
coastal 6PPs 1629.8 44.7 2.82 07-02
North Ports 2697.8 53.0 2.00 02-01
Yangtze River delta 1242.5 -74.7 -5.67 02-01
South Ports 2233.4 -216.0 -8.82 02-01
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