China announces plan to form national oil & gas pipeline company.

The highly anticipated reform of the chinese oil and gas industry is now official according to the country's state planner. The creation of the new company was released as part of the National Development & Reform Commission's report during the last National People's Congress meeting.

Creating a central oil and gas operator will support China’s energy companies split the cost of pipeline transportation from the sale of oil and gas. No more information has been published regarding the details of the company or when it will be created.

The NDRC repeated its goal of speeding up the exploration of oil and gas in China.