Core Viewpoint - The National Development and Reform Commission (NDRC) has set the maximum allowable annual revenue for the cross-province refined oil pipeline transportation by the National Petroleum and Natural Gas Pipeline Group Co., Ltd. at 9.902 billion yuan (including 9% VAT), effective from January 1, 2026 [1][2]. Group 1 - The NDRC's notification outlines the regulatory framework for determining the maximum allowable revenue for cross-province refined oil pipeline transportation [1]. - The specified maximum revenue is set at 9.902 billion yuan, which includes a 9% value-added tax [1]. - The National Petroleum and Natural Gas Pipeline Group Co., Ltd. is required to negotiate specific transportation prices with users, provided they do not exceed the maximum allowable revenue [1].

Core Viewpoint - The National Development and Reform Commission (NDRC) has approved the maximum allowable annual revenue for the cross-province refined oil pipeline transportation by the National Petroleum and Natural Gas Pipeline Group Co., Ltd. to be 9.902 billion yuan (including 9% VAT), effective from January 1, 2026 [1]. Group 1 - The approved maximum allowable revenue is set at 9.902 billion yuan, which includes a 9% value-added tax [1]. - This decision is based on the regulations outlined in the NDRC's previous notice regarding the pricing mechanism for refined oil pipeline transportation [1]. - The National Petroleum and Natural Gas Pipeline Group Co., Ltd. is required to negotiate specific transportation prices with users, ensuring they do not exceed the approved maximum revenue [1].