The Life of Cramer 215
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China tightens restrictions on foreign financial investment in oil refining sector
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HEDP on Thursday revealed brand-new guidelines on international engagement in commercial projects, under which Beijing will tighten up constraints on oil refinery tasks while encouraging foreign investments in the advancement of unusual sources.
The nation's leading economic preparation company, the National Growth and also Reform Compensation, released the brand-new guidelines in a statement published on its site.
The brand-new guidelines on foreign financial investments are in line with the NDRC guidelines issued in April this year of an extensive list of markets that the government is motivating, phasing and also limiting out.
Under the brand-new standards, fresh foreign investment in the refining market are enabled only for projects with unrefined purification capacities of above 10 million mt/year (200,822 b/d), catalytic crackers and also hydrocrackers of over 1.5 million mt/year in capability, or agitators of over 1 million mt/year.
The previous guidelines, issued late 2007, restricts international investment in refinery jobs with CDU capacity of under 8 million mt/year (160,658 b/d).
The new guidelines also lays out markets that the federal government is encouraging international business to purchase, which include exploration and development of unconventional resources like shale gas and deep-sea gas hydrates, by means of joint endeavors or collaboration with Chinese business.
The brand-new guidelines work on January 30, 2012.
In April, Beijing said it plans to close refineries with unrefined purification systems of under 2 million mt/year (40,164 b/d) by end 2013 as part of its plan to terminate polluting sectors.
The NDRC had claimed then that structure of new refineries with unrefined throughput of less than 10 million mt/year (200,822 b/d), catalytic biscuits as well as hydrocrackers of under 1.5 million mt/year capability, radicals of less than 1 million mt/year in capability, as well as steam biscuits of under 800,000 mt/year capability would certainly be restricted.
The nation's leading economic preparation company, the National Growth and also Reform Compensation, released the brand-new guidelines in a statement published on its site.
The brand-new guidelines on foreign financial investments are in line with the NDRC guidelines issued in April this year of an extensive list of markets that the government is motivating, phasing and also limiting out.
Under the brand-new standards, fresh foreign investment in the refining market are enabled only for projects with unrefined purification capacities of above 10 million mt/year (200,822 b/d), catalytic crackers and also hydrocrackers of over 1.5 million mt/year in capability, or agitators of over 1 million mt/year.
The previous guidelines, issued late 2007, restricts international investment in refinery jobs with CDU capacity of under 8 million mt/year (160,658 b/d).
The new guidelines also lays out markets that the federal government is encouraging international business to purchase, which include exploration and development of unconventional resources like shale gas and deep-sea gas hydrates, by means of joint endeavors or collaboration with Chinese business.
The brand-new guidelines work on January 30, 2012.
In April, Beijing said it plans to close refineries with unrefined purification systems of under 2 million mt/year (40,164 b/d) by end 2013 as part of its plan to terminate polluting sectors.
The NDRC had claimed then that structure of new refineries with unrefined throughput of less than 10 million mt/year (200,822 b/d), catalytic biscuits as well as hydrocrackers of under 1.5 million mt/year capability, radicals of less than 1 million mt/year in capability, as well as steam biscuits of under 800,000 mt/year capability would certainly be restricted.
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