China’s Independents To Sue Oil Majors Over Fuel

From Reuters:

Frustrated by an unsteady trickle of overpriced fuel, China’s independent oil firms hope to sue the country’s two energy giants Sinopec and PetroChina under a new anti-monopoly law, Chinese media reported on Monday.

The companies have crushed their smaller rivals as they fought to protect their own bottom line from the impact of unprofitably low state-set fuel prices, the Beijing News reported.

Two-thirds of the country’s 663 independent wholesalers have gone bankrupt and one third of its 45,064 independent service stations had also closed, the paper said, citing a survey by the China Fuel Distribution Association.

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.