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Yong Li

The regulatory approach to petroleum in China is unique, with strong state involvement (participatory intervention) and control through all aspects of the petroeum value chain, both onshore and offshore, where administrative rights to search for, take, move, process and sell petroleum are granted. Therefore, it is necessary to consider both access and operational licenses throughout the entire petroleum value chain to gain a sense of both the legal character of petroleum licenses, the role of the state in the licensing as well as the legal character of those rights granted. Given the state’s involvement and control, there will also be a consideration of foreign investment in licenses and the impact on legal character.

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Jing Li, Yong Li and Alan M. Rugman