PTR - PetroChina considers spinoff of energy marketing business - Bloomberg

PetroChina ( NYSE: PTR ) is weighing a plan to carve out its marketing and trading business and seek a separate listing, Bloomberg reported on Thursday.

A surge in oil prices earlier this year prompted PetroChina's ( PTR ) state-owned parent China National Petroleum Corp. to consider monetizing the business, according to the report.

FY 2021 revenues from PetroChina's ( PTR ) marketing segment jumped 45% Y/Y to 2.17T yuan ($320B) and amassed a 13.28B yuan operating profit, driven by higher prices and sales volume of refined oil.

PetroChina ( PTR ) said last week that it notified the NYSE that it will apply for a voluntary delisting of its ADS .

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