China's two oil giants, Sinopec and PetroChina, said on Saturday that they would import more refined oil while increasing domestic production to ease fuel shortage in the country.
China has been hit by shortage of refined oil, as some oil refineries have cut production and some others hoard oil for higher prices, the report said.
Experts have said the Government should reform the oil price mechanism to reflect international levels and allow oil firms to transfer the rise to consumers.
China has been hit by shortage of refined oil, as some oil refineries have cut production and some others hoard oil for higher prices, the report said.
Experts have said the Government should reform the oil price mechanism to reflect international levels and allow oil firms to transfer the rise to consumers.
Via: PTI | Beijing
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