Beijing offers subsidy for refineries if reference crude price exceeds $130/b
June 30, 2022 Comments Off
China will subsidize refineries if its reference basket of crude prices rise over $130/b, a move to sustain gasoline and gasoil production to ensure domestic supplies under its current oil product pricing mechanism, according to a government notice released June 29. The notice stated that the government will cover the subsidy for two months. This suggests that Beijing has estimated…
Beijing offers subsidy for refineries if reference crude price exceeds $130/b
China will subsidize refineries if its reference basket of crude prices rise over $130/b, a move to sustain gasoline and gasoil production to ensure domestic supplies under its current oil product pricing mechanism, according to a government notice released June 29. The notice stated that the government will cover the subsidy for two months. This suggests that Beijing has estimated…
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