The National Development and Reform Commission (NDRC) has recently issued a notice concerning the approval of the maximum permitted revenue for cross-provincial refined oil pipeline transportation. The specific content is as follows.
According to the relevant provisions of the "NDRC Notice on Improving the Price Formation Mechanism for Refined Oil Pipeline Transportation" (Development and Reform Price [2024] No. 1703), the approved annual average maximum permitted revenue for the cross-provincial refined oil pipeline transportation operated by the China Oil & Gas Pipeline Network Corporation (PipeChina) during the first regulatory cycle is set at 9.902 billion yuan (including 9% value-added tax). This cycle is calculated to commence from January 1, 2026.
Under the premise of not exceeding this maximum permitted revenue ceiling, the China Oil & Gas Pipeline Network Corporation is to negotiate and determine specific transportation prices with its customers, adhering to the principles stipulated in the Development and Reform Price [2024] No. 1703 document.
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