This book provides a comprehensive and unique perspective on China's oil and natural gas industry and a practical roadmap to undertake reforms.The book begins with a thorough examination of the status quo of China's oil and natural gas industry. It explores the evolution, transition, and characteristics of the oil industry of China, and unveils the problems that caused ineffectiveness of the oil and petroleum products market, namely, the dominance of monopoly enterprises, price regulation, and restriction to entry. It develops with an insightful analysis on the efficiency losses and welfare...