(Yicai Global) Oct. 26 -- A Chinese regulator has warned the country's major state-owned oil firms not to increase prices for liquified natural gas ahead of peak winter demand for heating.
The government regulates LNG prices so oil firms should not try to manipulate the rates, the State Administration for Market Regulation said on its website today. Firms which violate laws will be severely punished, it added.
As the demand for LNG surged, prices soared during the winter months between October and March last year.
The SAMR had met with the China National Petroleum, China Petroleum and Chemical, and China National Offshore Oil to remind about the policy.
Editor: Emmi Laine