NDRC mulls allowing private companies to enter oil sector

The top planning body is considering opening the State-monopolized oil market to the private sector players, a senior official said yesterday.

"We are studying the possibility of gradually opening up the oil market to allow competition," said Bi Jingquan, vice-minister of the National Development and Reform Commission (NDRC).

"Private enterprises will be guided into investing into building transfer and storage facilities for petroleum businesses."