Why China’s Putting All Its Oil Pipes in One Company

Chinese President Xi Jinping has a plan to help meet the country’s growing energy needs and clear its dirty air: Spin off the tens of thousands of miles of pipelines held by three state-owned oil and gas giants and merge them into one new company. After multiple delays, the company’s launch was officially announced in December. The resulting firm, China Oil & Gas Pipeline Group Co., will aim to attract private investors to help expand the $70 billion network and diversify energy supply. Such