China mulls oil asset spinoffs as part of reforms: sources

Hong Kong

THE Chinese government is looking at stripping its biggest energy companies of their oil and gas pipelines, as part of sweeping industry reforms that would see the assets spun off into independent businesses, according to people with knowledge of the plans.

China's economic planning agency, the National Development and Reform Commission (NDRC), is leading talks on the initiative, according to four people, who asked not to be named as they aren't authorised to speak publicly on the issue.

The separation of the pipeline units would be part of President Xi Jinping's reforms to allow markets a more decisive role in the economy.

The NDRC has held talks since last year on the sale of the assets with the biggest pipeline owners and the utilities that buy most of the fuels, the people said. A final decision on the p…