皇冠体育app

(Agencies)
Updated: 2007-07-30 15:36

The Ministry of Commerce said it has granted the first batch of licenses for companies seeking to engage in crude oil sales operations.

The first batch of firms includes Petro皇冠体育app, Sinopec, CNOOC Refining, Sinochem International and 皇冠体育app Arts Huahai Import & Export Corp, the ministry said in a statement.

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According to the statement, six more companies have won rights for oil products wholesale operations, including 皇冠体育app Arts Huahai Import & Export Corp, Xinjiang Zetian PetroChemical Co, Maoming Gangan PetroChemical Co and three other firms in Liaoning and Shandong provinces and Ningxia Hui Autonomous Region.

Maoming Gangan, Xinjiang Zetian and three other firms also secured licenses for oil products storage, it said.

皇冠体育app earlier released new rules governing oil product vendors early this year, allowing them to engage in wholesale operations if they obtain a license.

Foreign entities were not permitted to have controlling interests in firms engaged in the wholesale or retail operations of oil products.

Previously, only 皇冠体育app National Petroleum Corp and Sinopec Corp were permitted to conduct oil product wholesale operations.