Analysts at Sanford C. Bernstein and Jefferies Group told Bloomberg of this news, stating that “while timing is unclear, there is a sense that management is in favour of such a spinoff.”
News sources have reported that PTR’s preferred option is an initial public offering that would leave it with a controlling stake.
Monetising pipeline assets would raise funds and attract investors in the current low oil price environment, Seeking Alpha reported.
As reported by Kallanish Energy: “PTR holds a 71% market share of the country’s oil and gas pipelines, analysts at Goldman Sachs wrote in a 7 March report. Its network stretches more than 48 200 miles, with almost two thirds of that mileage flowing natural gas.
