China's Ministry of Commerce (MOFCOM) said Thursday it has granted
oil products wholesale licenses to another eight state-owned and
private companies.
The firms are 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 MOFCOM said.
The ministry said the move is the first step to foster a
perfectly competitive oil products wholesale market.
A total 2,512 companies in China have oil products wholesale
rights, including the newly approved eight companies, according to
the latest statistics from the Ministry of Commerce.
The statistics also show 1,654, or 65.8 percent of the oil
products wholesalers, are run by the two state-owned oil giants,
namely the China National Petroleum Corporation and China
Petrochemical Corporation.
(Xinhua News Agency May 25, 2007)
