Rising oil costs may kill off rare price control bastion

Beijing will soon launch a review of how it regulates oil and natural gas prices in a move that could result in more market-driven regulation that ties domestic prices more closely to the world market, government sources said.

The effort begins this month with a high-level meeting organized by the pricing bureau of the National Development and Reform Commission (NDRC) that will be joined by Vice Premier Zeng Peiyan, who some see as an advocate of greater private-sector involvement in the energy business.

The Standard