TITLE

Are Huge Profits to Be Readjusted?

PUB. DATE
June 2006
SOURCE
China Chemical Reporter;6/16/2006, Vol. 17 Issue 17, p23
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the oil price readjustment issued by the National Development and Reform Commission that requires oil production corporations to pay a special earning fund (SEF) from the date of the price readjustment in China. The starting point of SEF's payment is $40 per barrel. The China Ministry of Finance insisted that the SEF is the fund levied by the state on the excess income gained by oil production corporations selling domestic crude oil at a price beyond a certain level.
ACCESSION #
21387107

 

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