Independent oil and gas exploration and production company, Dalian Exploration, has said it welcomes a decision by the Chinese government to include a broad range of oil & gas exploration industry-related equipment on a list of items that will be made exempt from import tariffs.

Items included on the amended list include drilling equipment, semi-submersible rigs and LNG carriers.

“This is highly encouraging because it indicates that the government is committed to enabling and empowering the development of China’s homegrown oil exploration and production industry,” said a Dalian Exploration spokesman.

The move is intended to help drive China’s energy independence ambitions forward by enabling explorers and producers to reduce capital expenditure on plant, machinery and equipment produced by specialist manufacturers outside of China.

Dalian Exploration says it believes that the cost savings on various items of equipment and tooling its operations require will be in the region of $1.2 million in 2014 alone as a result of the tariff suspensions.

The Chinese government has come under increasing pressure from a variety of industrial sectors in recent months to begin introducing stimulus measures that will help soften the impact of a broad-based economic slowdown in what is the world’s second biggest economy. Economic growth slowed to 7.4% in the first quarter of 2014 compared with 7.7% in the final quarter of 2013

“We’re pleased that the government saw fit to consider the contribution our industry makes towards China’s energy independence and acted accordingly to ensure that momentum was not lost because of the broader slowdown in the economy the Dalian Exploration spokesman said.

About Dalian Exploration:
Dalian Exploration is a privately owned Oil & Gas exploration firm with key operations throughout North Eastern China. The company is strategically positioned to capitalise on onshore and offshore exploration opportunities that are presented by global demand for energy based natural resources.

In pursuit of continued growth, the company's commitment to increasing shareholder value is driven by an experienced management team that seeks to build upon existing competitive advantages and to strengthen operational competencies.

For further information on how you can benefit by becoming part of the Dalian Exploration growth story, contact their Investor Relations department to discover what is means to be a shareholder in the company.