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| Analysis of China's Oil and Gas Policies in 2016 |
| Jiang He, Chen Jianrong |
| CNPC Economic & Technology Research Institute |
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Abstract Guided by President Xi Jinping's key speech about energy revolution-"Four Revolutions and One Cooperation"-the Chinese oil and gas industry continued to accelerate its pace of reform in 2016. China has deepened its supply-side structural reforms, prevented and resolved the problem of excess production capacity, increased the effective supply of clean energy such as natural gas, and formed an energy innovation system. It has pushed forward the reform of pricing mechanisms with significant adjustments in the pricing mechanisms of oil products, pipeline transportation, gas storage and gas used for fertilizer production. It has also accelerated market access reform and encouraged various investors to enter into the fields of exploration & production, pipeline transportation and crude oil imports. China has sped up the legislative process of environmental protection to promote green and low-carbon development. It has accelerated oil & gas industry institutional reform, with some provinces initiating the pilot reform of oil and gas.
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Published: 29 July 2017
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2017, Vol. 24 
