China ends environmental ban on refining projects from Sinopec, CNPC
Overturning an eight month-old ban, the two companies can resume applying for clearance from the Ministry of Environmental Protection for new refining and petrochemicals projects.
By AIBING GUO
Chinas government removed its two biggest oil and gas
companies from an environment
al blacklist after
their operations posted drops in pollution last year.
Overturning an eight month-old ban, China National Petroleum
Corp. and China Petrochemical
Corp. can resume
applying for clearance from the Ministry of Environment
al Protection for new
and petrochemicals project
s, the ministry said
Wednesday on its website.
CNPC, Chinas biggest oil and gas company and parent of
PetroChina Co., and Sinopec Group, Asias biggest
refiner and parent of China Petroleum & Chemical Corp.
known as Sinopec, were banned from seeking environment
al clearances in
September 2013 following a review of their emissions
The nations energy companies have generally been
reducing spending on downstream businesses to focus on
capturing more supply. CNPC chairman Zhou Jiping said in
March that the company will spend most of its capital on
natural gas exploration and production in China, and would be
more cautious in investing in new refineries and chemical