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WorldPosted at: May 22 2017 9:08AM


China says will eventually allow private companies to invest in oil storage

BEIJING, May 22 (Reuters) China will eventually allow private companies to invest in the country's oil and gas storage, the government said in a blueprint document for its energy sector that mainly underscored earlier pledges on reforming heavily monopolized oil and gas industries.
Beijing has previously said it would take steps such as pushing to open upstream oil and gas exploration to private companies, help split natural gas sales from gas pipeline operations and lift the output of higher quality oil products.
That comes as China pushes to overhaul state-owned enterprises, including with the introduction of so-called mixed ownership of state firms, as part of the most far-reaching reforms of its sprawling and inefficient state sector in two decades.
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