• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 days Does Toyota Know Something That We Don’t?
  • 3 days America should go after China but it should be done in a wise way.
  • 9 days World could get rid of Putin and Russia but nobody is bold enough
  • 11 days China is using Chinese Names of Cities on their Border with Russia.
  • 43 mins "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 14 hours Even Shell Agrees with Climate Change!
  • 11 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 12 days Putin and Xi Bet on the Global South
  • 12 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Anti-Oil Activists Shift Focus to Insurers

Anti-Oil Activists Shift Focus to Insurers

Activists have also started attacking…

This Might Be The Fastest Way to Double U.S. Grid Capacity

This Might Be The Fastest Way to Double U.S. Grid Capacity

Upgrading existing lines using advanced…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

China Just Created A Huge Opportunity For The Oil & Gas Industry

China will remove the joint venture requirement for foreign companies wanting to enter its oil and gas industry as it moves to open up a range of industries as per a pledge it made during its continuing trade dispute with the United States.

Bloomberg reports the Chinese National Development and Reform Commission had announced it would remove the joint venture requirement for oil and gas projects along with a rule stating that only local firms can control gas networks in cities with populations of over half a million people.

This opens up a lot of opportunities for foreign companies who are eager to stake a claim in China’s fast-growing gas market as the country switches from oil and coal to gas for electricity to reduce pollution. Interest in oil and gas exploration might be a little more muted given the challenges inherent in new exploration, but it will probably still be there.

The NPRC announcement, Bloomberg noted, came on the heels of news that Presidents Xi and Trump had agreed to what effectively amounts to a truce in their trade war with pledges to renew the negotiations that broke down last month. China agreed to ease restrictions for foreign ownership in car manufacturing companies, insurers, and banks while President Trump said he would delay the imposition of restrictions on Huawei.

According to the NPRC announcement, the new rules will enter into effect at the end of July along with any other restrictions that are absent in the so-called negative list of rules restricting foreign companies’ access to certain industries such as oil and gas and mining.

To drive the goodwill point home, the NPRC said “China is sticking to the opening-up policy and continuing to ease market access, despite the fact that globalization is currently hampered by unilateralism and protectionism, and cross-border investment is affected by trade frictions.”

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • E Kon on July 02 2019 said:
    China has no rule of Law, there is no trust in China. China will wait until the infrastructure is set into the ground and will take it over (IE Socialize it). Just like Venezuela did in the 90&#039;s

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News