06-06-05
The requirements will be probably higher for enterprises engaged in finished
oil wholesale.
The requirements for applying to set up an oil wholesale entity include: The
applicant shall have registered capital of no less than CNY 10 mm, run oil
retail business within China for no less than two years, and possess over 30
self-owned or controlled gas stations, according to the draft of technical
regulations on the management and administration of enterprises concerning
finished oil wholesale released by the Ministry of Commerce (MoC).
If the draft obtains the approval, a large number of private enterprises in this field would be forced out of the market. The requirements are more detailed and higher compared to the temporary measures by MoC last December.
The requirements are too high, said Zhao Youshan, Vice President of China
Chamber of Commerce for Petroleum Industry (CCCPI) and also Chairman of Harbin
Longqing Petroleum and Chemical Corporation.
Among 1,690 private gas enterprises throughout Heilongjiang, none has so many
gas stations.
Moreover, an insider shows no more than 4 enterprises are qualified in Beijing
besides China National Petroleum Corporation and China Petroleum & Chemical
Corporation.
Source: SinoCast