Rochester, NY 8/11/2009 7:32:05 PM
Pre-Market - PetroChina Co. Ltd. PTR - Two Oil giants Companies Executed New Price Adjustment Policy
PetroChina Co. Ltd. PTR
PetroChina and Sinopec, update reports that the National Development and Reform Commission on the amendment of the current refined oil pricing mechanism are yet to communicate to the two oil giants companies of China.
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Since the implementation of the new pricing mechanism, two groups have strictly executed the national price adjustment policy to ensure a stable supply to the market. Sinopec says the company actively adapted to the new refined oil pricing mechanism when facing surplus resources, fierce competition and shrinking domestic demand since the beginning of this year, with an aim to keep normal refined oil market order.
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