25 April 2024
China mulls state oil and gas merger – reports
Publication date: 19 February 2015
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China is studying the possibility of merging major state-owned oil and gas companies as part of an on-going push to streamline government businesses, reports suggest. Under the plans, oil and gas major CNPC could merge with refiner and rival oil and gas producer Sinopec, while offshore-focussed firm CNOOC could be merge with the country’s leading petrochemical corporation Sinochem Group.