National energy assets set to be sold

Oil giants said to spin off pipeline operations amid sweeping reform measures, reports Bloomberg.

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.

The economic planning agency, the National Development and Reform Commission, is leading talks on the initiative, according to four sources, who asked not to be named.