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Energy Investment Guidelines Fail to Dent Oil Monopoly

On June 18, the National Energy Administration (NEA) released the Opinions on Encouraging and Guiding Further Expansion of Private Capital Investment in the Energy Sector, in response to Premier Wen Jiabao's call for the implementing rules of the "New 36 Clauses" encouraging private investment in various sectors to be introduced in the first half of the year. However, some have criticized the document for failing to address the topic of liberalizing import rights for crude oil, an issue of utmost importance to private enterprises.

In the coming months, detailed implementation rules for private investment in various sectors will be introduced. Still, industry insiders have stated that the rules only provide guidance based in principle rather than practical use.

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