China has opened up its oil and gas sector which has until now been dominated by state players such as the China National Petroleum Company and China Petrochemical Corp. – EPA pic, January 9, 2020.
CHINA will allow foreign companies to take part in oil and gas exploration and production in the country, in what officials hailed today as a “major reform” opening up the industry. The Natural Resources Ministry said foreign firms registered in China with net assets of not less than ¥300 million yuan will be eligible to obtain oil and gas mining rights.
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