First private oil group in China.(Oil Industry Chamber of Commerce plans for Great Wall United Oil Group Corporation)(Brief Article)

China Chemical Reporter, June, 2005

The first private oil group in China will be established in June. The company will be engaged in oil exploration and production, a sector always controlled by large state-owned oil enterprises.

According to the information disclosed by the director of the Oil Industry Chamber of Commerce, the National Federation of Industry and Commerce, final preparations are being made for the establishment of the private enterprise called Great Wall United Oil Group Corporation. The equity capital of the company will be nearly RMB 10 billion.

As China's first comprehensive private oil entity, the company will become a large multinational oil group corporation integrating upstream and downstream operations such as exploration, production, refining, logistics,...

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