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China probes 17 gas firms in anti-monopoly investigation - NDRC

Gasoil News - Published on Thu, 28 Dec 2017

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Reuted quoted China's National Development and Reform Commission (NDRC) as saying that it launched an anti-monopoly investigation into 17 natural gas suppliers on Dec. 20. In a statement, China's state planning agency said it was investigating whether the companies might have broken anti-trust laws amid surging gas prices driven by Beijing's efforts to switch millions of household from burning coal to using gas for heating this winter in an ambitious drive to cut pollution.

The NDRC said that PetroChina gas sales unit Qaqing was one of the companies under investigation, without identifying the others. PetroChina wasn't immediately available for comment.

It said that it had already punished four Chinese utilities for overcharging on heating fees and gas prices.

It added that Heilongjiang Zhongxin Power Heating Co, Zhejiang Haiyan Gas Co, Xuanhan Hexin Natural Gas Co and Shangdong Hengyuan Gas Station were fined a total CNY 540,000 for lifting gas prices without approval from central government.

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Posted By : Rabi Wangkhem on Thu, 28 Dec 2017
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