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Project Insights

China’s Yanchang Petroleum targets midstream

Yanchang Petroleum’s proposed takeover of provincial distributor Shaanxi Gas would give it the necessary pipeline scale to ramp up gas production Yanchang Petroleum’s proposed takeover of provincial distributor Shaanxi Gas would give it the necessary pipeline scale to ramp up gas production.
By Tang Tian 18 July 2019 Asia Pacific / Companies & Finance 0 34401
A Yanchang Petroleum gas fracking operation. (Yanchang Petroleum)

The key issue: Shaanxi-based Yanchang Petroleum Group is in the process of securing approval to acquire a majority stake in its home province’s main gas distributor.

Interfax analysis: Shaanxi Yanchang Petroleum Group, the fourth-largest oil and gas company in China after the three NOCs, appears to be following in the footsteps of its larger peers with a potential deal to take over provincial piped gas distributor Shaanxi Gas Group. The proposed consolidation of the two provincial government-owned companies means gas will play...