China grants wholesale licenses

China has granted the first batch of licenses for companies to sell oil products on a wholesale level in May. The eight state-owned and private companies include CNOOC Refinery Co., Ltd. and its sales subsidiary, Sinochem International Oil Co. and its subsidiaries in the provinces of Guangdong, Jiangsu and Zhejiang, Sichuan Ludi Oil Sales Co., Ltd. and Wuhu Erhuan Oil Co., Ltd. They are the first batch of companies that have won licenses after China opened the oil products wholesale market in December last year, the Ministry of Commerce said. (May 28, 2007)