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China grants extra oil import quotas for private refiners
7/9/2020 12:00:00 AM

China has issued more non-state crude oil import quotas to refiners, for a total of 26.84 million tonnes (195.93 million barrels) in its third batch for 2020, three sources familiar with the matter told Reuters on Thursday.

A total of 17 companies are receiving the quotas, they said.

These include China National Chemical Corporation, with a quota of 8.6 million tonnes; Zhejiang Petroleum & Chemical Co, allotted 2.4 million tonnes; Shandong Tianhong Chemical Co, which received a quota of 2.2 million tonnes, while Hengli Petrochemical (Dalian) Refinery Co got 2 million tonnes.

That takes China's total released quota of non-state crude imports to 184.55 million tonnes this year, a Reuters calculation showed.

The entire year's quotas were set at 202 million tonnes, the Ministry of Commerce said last November.

The ministry did not immediately respond to a faxed request for comment. (1 tonne=7.3 barrels for crude oil)

Source: Zawya

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