More gas firms allowed to sign foreign contracts
26 September 2007
Chinese gas companies will be allowed to sign more global cooperation deals with foreign partners in a bid to help channel funds and technology into China's gas sector, reported state media. The State Council, China's cabinet, revised regulations on joint onshore oil exploration to allow more "state-designated" companies to set up ventures with foreign partners to explore methane sources trapped in coal seams. China United Coal-bed Methane Corp (CUCMC) was previously the only company allowed to enter into such ventures, raising complaints from competitors.
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