NDRC requires PetroChina and Sinopec to ensure supply of refined oil products

The National Development and Reform Commission of China issued a notice a few days ago to require the supply and price management of the refined oil market. PetroChina and Sinopec Group Corporation shall strive to increase the amount of processed crude oil, strictly control the export of refined oil, ensure the supply of refined oil market, and The foreign companies shall suspend supply and limit the supply of refined oil. All refined oil operating companies, especially retail enterprises, shall not stockpile and sell their products.

The notification requirements published on the website of the National Development and Reform Commission indicate that refined oil production and operation companies must conscientiously implement the relevant regulations on price management and strictly sell refined oil at a price stipulated by the state. The wholesale price of gasoline and diesel sold by retail companies affiliated to PetroChina and Sinopec Group Company to retailers outside the system shall not be less than 4.5% in accordance with the wholesale and retail prices of the market.

The National Development and Reform Commission also requested that the competent price departments at various levels should strengthen the supervision and inspection of the implementation of refined oil prices, and prohibit enterprises that have suspended the supply of goods, imposed non-implementation of national price policies, or violated state regulations and raised the ex-factory price, wholesale price, and retail price without authorization. The production and business units and individuals who have price violations, such as false price increases, hoarding, price hikes, and profiteering, must be investigated.

Big Capacity Pill Jar

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