China will remove the joint venture requirement for foreign companies wanting to enter its oil and gas industry as it moves to open up a range of industries as per a pledge it made during its continuing trade dispute with the United States. Bloomberg reports the Chinese National Development and Reform Commission had announced it would remove the joint venture requirement for oil and gas projects along with a rule stating that only local firms can control gas networks in cities with populations of over half a million people. This opens up a lot of opportunities for foreign companies who are eager to stake a claim in China’s fast-growing gas market as the country switches from oil and coal to gas for electricity to reduce pollution. Interest in oil and gas exploration might be a little more muted given the challenges inherent in new exploration, but it will probably […]