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PetroChina plans to spin off its oilfield services business

PetroChina plans to spin off its oilfield services business

PetroChina chairman Wang Yilin says that PetroChina plans to spin off its oilfield services business on February 23rd in Houston.

Chairman Wang Yilin delivers the speech on the IHS CERAWeek energy conference held in Houston. He says that as one part of the efforts to PetroChina simplification and improve the efficiency, PetroChina nowadays is considering an initial public offering of its oilfield services business. However, chairman Wang Yilin does not provide details about the schedule or the number of shares that will be split.

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