China grants more licenses

China’s Ministry of Commerce has granted licenses for crude oil or refined oil sales and storage to eight companies. China opened up its domestic crude and refined oil wholesale market in December 11, 2006 and has just recently began awarding licenses to state-owned and private companies, regardless of ownership. According to Announcement No. 73, 2007, the Ministry of Commerce has granted crude sales and storage licenses to China National Petroleum Corporation (CNPC) and China Petrochemical Corporation. China Petroleum-Shougang (Beijing) Oil Distribution Company Limited, Beijing Yanfang Petroleum and Chemical Services Company Limited, and Yunnan Challenge Petrochemical Company Limited were awarded licenses to sell refined oil products wholesale. Qinhuangdao Port Group Company Limited, Rizhao Binhai Petroleum and Chemical Company Limited, and Gucheng Thermoelectricity and Civil Energy Logistics Center received licenses for refined oil storage. (September 26, 2007)