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Saturday, 25 April 2009 |
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China Petroleum and Chemical Industry Association officials said Friday that China will soon disclose a blueprint for the development of the energy industry, supplementing what was announced in February to form a comprehensive stimulus plan for petrochemical industry, according to some media report.
The officials involved in drafting the blueprint said that the plan will encourage energy companies to buy business overseas, at the same time the central government may provide partial funding in such acquisition, and may even invest in such energy companies through its investment coproration. In addition, the blueprint will also highlight the Government effort to shut down small inefficient refineries. He added that crude oil processing capacity below 2,000,000 tons will be shut down by the end of 2011. |
China News 
