Chinese city of Karamay may become oil and gas trading centre

By Staff reporter 20 March 2017

Discussions are taking place to establish an oil and gas trading centre in the city of Karamay in Xinjiang as part of the Chinese region’s pilot oil and gas reforms, Guo Jiaofeng, a senior researcher at the State Council’s Development Research Centre, told Interfax Natural Gas Daily on the sidelines of an industry meeting in Beijing on Monday.

Karamay not only has abundant oil and gas resources but also is home to China National Petroleum Corp.’s data centre, which could provide technical support, according to Guo.

The...

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