China is going to establish a holding company to purchase oil abroad. Bloomberg reports about negotiations of Chinese oil refining companies.
China will establish a holding company, which will be the largest buyer of oil in the world.
The Chinese authorities approve of this idea.
State companies are involved in the negotiations, which import about 5 million barrels of oil a day in total. The future holding company may become the world’s largest buyer of oil.What caused NATO exercises in the North Atlantic?