April 2, 2020 / 3:39 AM / 4 months ago

China's CNOOC signs pipeline assets transfer agreement with PipeChina

FILE PHOTO: Logos of China National Offshore Oil Corporation (CNOOC) are displayed at a news conference on the company's interim results in Hong Kong, China March 23, 2017. REUTERS/Bobby Yip

BEIJING (Reuters) - China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.

The statement did not give details on what projects have been handed over.

China set up its long-awaited national oil and gas pipeline company in December to run pipeline infrastructures that had been controlled by China National Petroleum Corp (CNPC), Sinopec and CNOOC.

PetroChina, a listed arm of CNPC, also said it was trying for a deal with PipeChina on the transfer of pipeline assets and no agreement had been reached as of late March.

Reporting by Muyu Xu and Shivani Singh; Editing by Shounak Dasgupta

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