China opens up oil & gas exploration to foreign firms

[McFurd]

RT - 1/9/2020 - China's Ministry of Natural Resources said on Thursday that for the first time foreign companies will be allowed to take part in oil and gas exploration and production in the country. According to the ministry, from May 1 foreign firms registered in China with net assets of not less than 300 million yuan ($43 million) will be eligible to obtain oil and gas mining rights. The change will also apply to domestic companies. "Opening to both domestic and foreign enterprises is a major reform measure," Deputy Minister of Natural Resources Ling Yueming was quoted as saying by AFP. Read more @ https://www.rt.com/business/477792-chin ... ploration/