Legal Regulations On Oil Company's Capital And Competition Structure

Adapt to the needs of the efficiency of oil market competition,most of the oil company's capital structure has experienced the process of from dispersion to polymerization and then from polymerization to dispersion.In the evolution of capital structure and competition structure,oligopolistic oil market can also show a brilliant competition situation.In the political and economic dimensions,company law,competition law and oil law make arrangement to the oil company capital structure,organization structure and competition structure.Based on the demand for stable oil supply and the impact of oil geopolitics,the oil industry had undergone a process of nationalization.The investment of the state capital brought strong support to the petroleum industry.During that period,British company law made loose provision on the change of organization structure to make the replacement of decision-makers after nationalization easy.The lack of company law and competition law in Soviet Union fit the capital concentration market structure.Chinese oil industry regulation provided state-owned enterprises a variety of privileges and even some administrative functions.With the scarcity of resources,the oil industry must pursue efficiency,which is the product of market competition.The cultivation of competition structure comes from the proper decentralization of capital structure.The regulation on corporate monopoly behavior and merger behavior in British competition law and the regulation on administrative monopoly in Russian competition law have reflected the law's function in market transformation.Chinese administrative documents directly intervene the oil industry,the company law only has rough rules on the organization structure of state-owned enterprises,and competition law make loose regulation on administrative monopoly,which becomes the plight of the oil market legal system.The government's function and the market mechanism proceed dynamic evolution,and the oil market competition structure changes together.Strong market is created from effective government.Oil efficiency is achieved from market competition.Competitive strength is brought by corporate governance.Chinese oil industry is facing a major choice to liberate market from the administrative monopoly and maintain competition by competition law.This requires a strong response by the competition law which aims at protecting fair competition and the anti-monopoly law which aims at promoting economic efficiency.In the new round of market-oriented reform,the mixed ownership of oil market reform is the focus and highlights.The improvement of rules on institution of directors and supervisors in the company law,the strengthen of regulation on the administrative monopoly in anti-monopoly law and the market access system,the resource allocation mechanism,the government supervision system in oil law can be the legal basis of oil industry's reform.Institution's change provides motivation for system reform.The coordination and synchronous evolution of systems bring new hope for Chinese oil industry market reform.The progress of law will accompany with this historical process!...