By Wang Ying
July 31 (Bloomberg) -- China, the world's second-biggest energy consumer, is unlikely to increase fuel prices before the Beijing Olympics next month, the chairman of PetroChina Co. said.
PetroChina, which has been receiving rebates on the 17 percent value-added tax levied on crude-oil imports, is unsure if the state subsidies for selling fuels below cost will continue in the third quarter, Chairman Jiang Jiemin said today.
The world's second-largest company by market value is still in talks with the Chinese government on windfall taxes levied on crude-oil sales, Jiang said after a shareholders meeting in Beijing.
To contact the reporter on this story: Wang Ying in Beijing at ang30@bloomberg.net.
Thursday, July 31, 2008
China May Not Raise Fuel Price Before Olympics, PetroChina Says
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