As it promised for its entrance to the WTO, China will open upits wholesale market by the end of 2006, after having opened up itsoil product retail market at the end of 2004.. In this context, the oilproduct distribut...
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As it promised for its entrance to the WTO, China will open upits wholesale market by the end of 2006, after having opened up itsoil product retail market at the end of 2004.. In this context, the oilproduct distribution system of China and its related policies, needmassive ***’s enormous market and the huge potential as the world’ssecond largest oil consumer next to the USA, are catching the eyesof an increasing number of investors the world over. The global oilmajors, such as BP, Shell and Exxon Mobil, have penetratedChina’s oil product market and are seeking greater opportunitiesfor development. The regional oil companies in the neighboringcountries are also waiting for the right moment to get in. Beside theprivate domestic oil traders, CNOOC, SINOCHEM and CITIC arealso gearing up efforts for their entry into the *** a better understanding of the problems existing in theChina’s oil product market and the trends of development, theIPE Editorial Department invited experts from the Law School,Jinan University, the Oil Product Marketing and Gas StationManagement Office under Beijing Petroleum ManagersTraining Institute, SINOCHEM Strategic Planning Departmentand CNPC Finance & Asset Department. These four were toanalyze the following nine problems: 1) What is the directionand objective of the reform and opening-up within the China’soil market? 2) How to evaluate the oil product pricingmechanism currently in practice in China? 3) How to improvethe China’s oil product pricing mechanism? 4) How big is thewholesale oil product market in China? 5) How high shouldthe threshold be and what impact it might have upon the newentrants. 6) What influence the threshold of accession to thewholesale market might have upon the upper-stream anddownstream segments of the industry chain. 7) Will theopening of the wholesale market bring a pattern change of theoil product market? 8) How to boost the reform and openingAup of the market? 9) Analysis of, and suggestions f
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