Greater China

NDRC mulls PetroChina splitting or restructuring

Beijing: With PetroChina’s corruption scandal exposed and several senior officials from the company and its related companies being investigating by the authorities, National Development and Reform Commission (NDRC) is currently considering splitting or restructuring the energy giant.

A source who is close to NDRC said the commission might split PetroChina into five to six regional companies which will then be integrated with local companies.

“It will change the layout of China’s oil industry completely,” the source said, adding that now the commission is doing preliminary studies and the issue might be discussed in the CPC Central Committee meeting in November. [11/10/13]

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