China Lifts Restrictions on Some Foreign Oil & Gas Investments, an Industrial Info Market Brief

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China will remove restrictions on foreign investments for the Oil & Gas exploiting and survey sector after July 30, according to the National Development and Reform Commission (NDRC) and the Ministry of Commerce of China.

This is an important milestone in China's oil and gas system reformation, which indicates that the upstream oil and gas sector will be fully opened to foreign and private investments shortly. Foreign investments are currently only allowed for joint ventures or cooperative enterprises in the upstream sector, where there are Chinese counterparts. Industrial Info is tracking more than $17 billion worth of oil and gas projects in China. Click here for the list of projects.