Standing Committee approves oil policy
The Standing Committee on Economics approved the Government’s oil policy on Wednesday.
The Government’s policy covers the period until 2015, and calls for building refineries in the central, eastern, and western regions of the country
Building refineries in the central and eastern regions is feasible, but it will be more difficult in the western region, due to a lack of oil exploration there. The Government believes that building the refineries will be economical and keep fuel prices low. But some members of the committee said that the refineries could import crude oil from abroad, and that would not keep fuel prices low.
Fourteen companies are engaged in oil exploration in Mongolia, six of which are domestic companies. Committee members also decided to allocate capital for refinery construction from the state budget. The oil policy will next be discussed in a session of Parliament.
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : News.mn
The Government’s policy covers the period until 2015, and calls for building refineries in the central, eastern, and western regions of the country
Building refineries in the central and eastern regions is feasible, but it will be more difficult in the western region, due to a lack of oil exploration there. The Government believes that building the refineries will be economical and keep fuel prices low. But some members of the committee said that the refineries could import crude oil from abroad, and that would not keep fuel prices low.
Fourteen companies are engaged in oil exploration in Mongolia, six of which are domestic companies. Committee members also decided to allocate capital for refinery construction from the state budget. The oil policy will next be discussed in a session of Parliament.
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : News.mn
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