China may merge its state-owned oil companies
The government’s economy advisers are reportedly conducting feasibility studies for possible mergers however, no specific time was given for a decision on whether or when to proceed with the mergers. It was reported that a possible merger will create an entity as big as ExxonMobil.
In 2014, China’s gross domestic product (GDP) grew by 7.4% compared with a growth rate of 7.7% in the preceding year to miss the government’s economic growth target of 7.5%.
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