China will establish a holding company, which will become the largest buyer of oil in the world

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 become the largest buyer of oil in the world

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.

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