The Chinese government is finalizing the formation of a new state-owned oil and gas pipeline company, which could be launched as soon as Jul. 1 to mark the 95th anniversary of the founding of the ruling Communist Party of China, a well-placed industry source tells International Oil Daily (IOD Mar.15'16). With the registration of the new company, China is planning a true midstream giant, designed to take ownership of the country's sprawling pipeline network out of the hands of its dominant national oil companies (NOCs)--ironically into what looks a lot like another monopoly--as well as control of storage and terminals.
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