CHINA LAUNCHES GREEN CRACKDOWN – OILS FIRMS FEEL THE HEAT
May 26th, 2015
Worsening smog and corruption appear to be the two factors which have left China’s once powerful oil companies emasculated and forced to comply with Chinese environmental and fuel regulations. Ever since the country’s Premier Li Keqiang posted his ‘war on pollution’ in March 2014, there has been new pressure on China’s trio of major state-run oil firms: China Petroleum and Chemical Corporation (Sinopec) and China National Petroleum Corporation (CNPC) – the parent company of PetroChina – as well as China National Offshore Oil Corporation (CNOOC).With ...
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