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| Analysis of China's Oil and Gas Policy in 2015 |
| Chen Jiaru |
| CNPC Economics & Technology Research Institute |
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Abstract The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking through the requirements on the resources varieties, exploration phase and enterprise qualification. The right of importing and using of the crude oil has been gradually relaxed and 13 local refineries have obtained the right to use imported crude oil of 55.1888 million tons per year. The natural gas price for non-residential use was unified and a universal price was set for the incremental supply and existing supply. The Shanghai Petroleum and Gas Exchange (SHPGX) was established and laid foundation for the market mechanism to determine the price. The government governance has undergone continuous adjustments such as regulating the tax instead of charging the fees, streamlining administration and delegating power to the lower levels.The Guidelines on Deepening the Reform of State-owned Enterprises was released, symbolizing the accomplishment of the overall planning of the SOE reform.
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Published: 15 April 2016
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2016, Vol. 23 
