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Experts Discuss Prospects of China's Oil Industry
More than 160 oil experts gathered at the Second China International Symposium on the Fuel Oil Market, which opened Thursday in Guangzhou, this capital of south China's Guangdong Province, to discuss the prospects of China's oil industry.
Research fellows from the Development Research Center under the State Council and the State Development Planning Commission gave speeches on the possible changes in China's oil price system after the country enters the World Trade Organization (WTO), the opening-up of the oil market and government's administration.
The experts agreed that China's WTO entry would inevitably bring heavy blows to its oil industry with the influx of foreign oil companies and products.
They also provided measures to deal with the problems, which include forming large conglomerates, updating oil refining technology and lowering production costs.
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