Skip to comments.China to open energy sector
Posted on 10/29/2013 11:36:01 PM PDT by TexGrill
BEIJING, Oct. 30 (Xinhua) -- Monopolies in China's energy sector are coming to end, with more private capital to be allowed to exploit oil and gas resources.
Reforms will no longer stress state-ownership, but will focus on competence and willingness to carry out national industrial policy, said Wang Zhen, deputy director of the institute of energy strategy at the China University of Petroleum.
Reform will prioritize the needs of the whole oil refining industry, Wang told Wednesday's China Securities Journal.
Zhong Jian, analyst with market information supplier CBI China, expects increased imports of refined oil products, allowing more private investors into the business.
Changes to these imports will not affect China's two oil giants -- PetroChina and Sinopec -- but assist pricing in the domestic market when the international price fluctuates, Zhong said.
(Excerpt) Read more at news.xinhuanet.com ...
This photo looks like the who’s who of Team Soros in China.
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