Sinopec Approves PetroChina-Style Pipeline Sale to Raise Funds

  • Sinopec will hold 50% stake in the pipeline unit after sale
  • PetroChina sold half of its Trans-Asia pipeline in December

China Petroleum & Chemical Corp., the world’s biggest refiner, approved a plan to sell as much as 50 percent of a pipeline asset, following a similar move last year by state-owned rival PetroChina Co.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.