Chinese pipeline reform set to spur E&P
The transfer of major infrastructure assets away from the country’s NOCs to the newly created PipeChina should reinvigorate the upstream sector
China’s pipeline reform will be a boon for domestic E&P in coming years as it will allow the country’s NOCs to sharpen their upstream focus while paving the way for the entry of more players to foster competition. The reform, initiated last month, saw PetroChina and Sinopec agree to swap various assets—including pipelines, storage sites and import terminals worth a combined RMB391bn ($56bn)—for cash and shares in a new midstream operator, known as PipeChina. Those deals, plus cash injections from other investors, will see PipeChina valued at RMB500bn once the transactions close by the end of September—making the state-owned firm one of the largest pipeline companies in the world. The as
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
