Analysts Skeptical of Chinese Oil Megamerger

摘要

A report in the Wall Street Journal (WSJ) has sparked speculation that China is studying various permutations in relation to a merger of two of its state oil giants, in a drive for greater efficiency to combat lower oil prices. The article on Tuesday suggested that Beijing advisers are conducting a feasibility study involving a potential marriage of PetroChina, the listed arm of parent China National Petroleum Corp., with Sinopec. Another possibility being considered involves a combination of China National Offshore Oil Corp. (CNOOC) and Sinochem. No indication was given as to whether or when any such deal might proceed and analysts reacted with skepticism.