Advertisement

CHINA

From Times Staff and Wire Reports

Rules on Foreign Oil Investment to Ease: China plans to introduce a more flexible policy for foreign investors in its oil industry, allowing foreign joint ventures into more areas of the business, the head of the state oil company was quoted in the China Daily’s Business Weekly as saying. Wang Tao, president of the China National Petroleum Corp., made the statement before heading to Norway to attend the World Petroleum Congress, the paper said. China has been gradually moving to relax restrictions because wells are running low.


Advertisement