oil prices after more buyers enter the market
Posted On 06/23/2010 07:15:08 by airblueness

Crude processing monopoly weakens The country's largest weapons manufacturer was given license to import crude oil, a pivotal move in reforming the oil industry, which is currently monopolized by five State-run companies, the Economic Observer reported Friday. The China North Industries Group Corporation (CNIGC) has been approved to import crude through its subsidiary China Zhenhua Oil, State-run media said. "The move will lead to more channels for overseas energy purchases and lower oil prices after more buyers enter the market," said Zhong Jian, analyst with Archlord gold, Shanghai-based Toprise Information & Technology Company. Crude imports are currently the exclusive domain of five firms - PetroChina, Sinopec , Sinochem, CNOOC and Zhu-hai Zhenrong. China joined the WTO in December 2001, vowing to break up its State-monopolized oil industry over time. The country opened the oil import business up to Archlord gold more firms in 2002 after the passage of anti-trust legislation, but reforms have been slow going. In 2007, China issued crude import licenses to 15 private companies, which then accounted for 20 percent of the country's total crude imports. But the government set strict criteria for the new importers restricting their ability to expand. "In theory, the move benefits a more open world of warcraft gold, and transparent market," said Lin Boqiang, director of the Center for Energy Economic Research of China at Xiamen University, Fujian Province. "But only in theory world of warcraft gold. All the crude imported can only be processed at Sinopec and PetroChina refineries." The entrance of CNIGC, however, may herald a major break with the monopoly past. "The oil imported by CNIGC will end up in its own refinery in Liaoning Province and sold in southern China," Zhong said. This could set the stage for more companies to open refineries and slowly break the oil giants' grip on the industry. So far, 23 companies have maple story mesos, successfully entered the oil import business, including several private firms. China, the world's second-biggest energy user following maple story mesos the US, has increased oil import quotas for private companies each year. In 2009, China Zhenhua Oil enjoyed a crude oil quota of about 1.2 million tons. The company is expected to import 4 to 5 million tons this year, which will be valued as much as 25 billion yuan ($ 3.66 billion). England disappoint as incredulous fans refuse to lose the faith What a shock it was for 2moons dil, the traveling England fans on Friday night in Cape Town. In the buildup to the Algeria game they turned the city's popular waterfront area into party central, leading a carnival of singing 2moons dil and dancing that made the match seem like a mere sideshow. In the stands at the fantastic Green Point Stadium there was an electric atmosphere as the teams came out and fans belted out the national anthem. Those around me made their feelings clear about what should be done with those irritating and ubiquitous plastic trumpets. "You can stick your vuvuzelas up your arse," they sang to the tune of "she'll be coming round the mountain." The mood was optimistic, and replica rolex, no one predicted what was coming next. The vibe changed as it became quickly apparent England were off message. Anger and frustration were followed by resignation, and at final whistle there was a stunned silence before the booing rained down. Upset England fans shared their opinions as they nursed replica rolex hangovers with bloody marys back at the waterfront on Saturday. Most still believe the team will qualify, which seems unrealistic based on the evidence so far. "What is maddening is that all of us can see the team selection and formation is wrong, but Fabio Capello is too stubborn to make any changes, or he just doesn't trust some of the players to do what he says," said Andy Bates, a builder from Blackpool. South Africans are also convinced that England are destined to go through. There was serious debate in the lobby at the Oria Guest House the morning after the game. Isaac Oria, the owner, said this is the most unpredictable World Cup he can remember. "England must beat Slovenia - it would be oblivion for them fast wow gold, if they were are eliminated." Clearly there is something seriously wrong in the England camp, and fast wow gold some of the flippant post-match comments from the players and coach indicate that they have misjudged the fans' mood. England supporters in full voice are truly a sight to behold and they deserve a performance that reflects their enthusiasm.


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