A breakthrough in the structure of Chinas oil industry came about with the recent creation of the Great United Petroleum Holding Co.,Ltd.(GUPC).Initiated by several domestic private petroleum enterprises,the new company is claimed to have about 50 private businesses as shareholders,with capital of 604 million.GUPC's new chairman,Gong Jialong,announced that the company aims to establish a transnational group corporation wirn several subsidiaries covering all sectors of the oil industry chain.But Mr.
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