Singapore—State-owned PetroChina intends to divest stakes in its two major cross-country gas pipeline networks as part of plans to develop mixed ownership of its assets and optimize resource allocation—a move that is in line with the government’s since late 2013 for reforms of state-owned enterprises and improved management of state-owned assets. In a filing to the Hong Kong Stock Exchange, PetroChina, which is the listed arm of stateowned China National Petroleum Corp., said it will inject “relevant assets and liabilities” of the First and Second West-East Gas Pipelines managed by its West-East Gas Pipeline Branch into a new entity, PetroChina Eastern Pipelines.
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