China may announce looser energy price controls and the break up of the domestic duopoly of PetroChina Co. and China Petroleum & Chemical Corp. (386) after a four-day Communist Party meeting ends today. “We expect an announcement on liberalizing of resource price and an opening up of the energy industry to more private investment,” Simon Powell, head of oil and gas research at CLSA Ltd., said in a telephone interview yesterday. “Any fuel price reforms would be mildly positive for Sinopec and natural gas price liberalization would help PetroChina.” China Petroleum is known as Sinopec. Chinese Politburo member Yu Zhengsheng said last month reforms to be discussed at the meeting of the party’s Central Committee meeting will be unprecedented “and will promote profound changes in every area of the economy and society.” Yu is ranked fourth in the seven-strong Politburo Standing Committee headed by party chief and President Xi […]