China, the fourth largest oil producer in the world (behind the U.S., Saudi Arabia and Russia) is undoubtedly one of the biggest stakeholders in the global oil and gas markets. Low oil prices and slowing domestic economic growth have compelled the second biggest global consumer of oil to accelerate its economic reforms.
In an interesting move that can be seen as a part of Chinese president Xi Jinping's ongoing efforts to reform China's bloated energy sector, the Chinese government is reportedly planning to separate the $300 billion pipeline assets from its biggest state owned energy companies - PetroChina and Sinopec.
http://oilprice.com/Energy/Crude-Oil/China-To-Create-An-Oil-Supermajor-Twice-The-Size-Of-Exxon.html