Three more companies have been granted oil product wholesale licenses by the Ministry of Commerce of PRC (MOFCOM), according to an announcement released by MOFCOM on Dec 22.
These three companies are PetroChina Quanzhou Sales Co, Yuhua Chemical Co, both in Fujian Province, and Shaanxi Huarun Chemical Co.
Only one of these companies is under the five biggest state-owned ones, while the others are private ones.
More and more enterprises outside the fold of the big-five have got oil product wholesale licenses since the second half of 2008, but they will encounter hardship in the market which is dominated by Sinopec and PetroChina, industry sources denoted. The competition will become fiercer in the future with the participation of other large-scale state-owned enterprises like CNOOC and Sinochem International, these sources believed.
So far, a total of 149 companies have been qualified for oil product wholesale business since Administrative Measures on Oil Products Market were published in December 2006. Among these companies, 40 or 26.85% are owned by CNPC, Sinopec, CNOOC, Sinochem and China National Aviation Fuel Holding; 109 or 73.15% are private or state-owned companies outside the five oil giants, with nine of them as Sino-foreign joint ventures.
These three companies are PetroChina Quanzhou Sales Co, Yuhua Chemical Co, both in Fujian Province, and Shaanxi Huarun Chemical Co.
Only one of these companies is under the five biggest state-owned ones, while the others are private ones.
More and more enterprises outside the fold of the big-five have got oil product wholesale licenses since the second half of 2008, but they will encounter hardship in the market which is dominated by Sinopec and PetroChina, industry sources denoted. The competition will become fiercer in the future with the participation of other large-scale state-owned enterprises like CNOOC and Sinochem International, these sources believed.
So far, a total of 149 companies have been qualified for oil product wholesale business since Administrative Measures on Oil Products Market were published in December 2006. Among these companies, 40 or 26.85% are owned by CNPC, Sinopec, CNOOC, Sinochem and China National Aviation Fuel Holding; 109 or 73.15% are private or state-owned companies outside the five oil giants, with nine of them as Sino-foreign joint ventures.
