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Asian Viewpoints

China's second batch of crude oil import quotas falls 34.6% on year

According to industry sources, the second batch of import quotas for crude oil in 2021 was 35.24 million tons, 34.6% lower than the second batch of 53.88 million tons last year. The total import quota of the first two batches this year was 157.83 million tons, a slight increase of 0.08% from last year's first two batches of 157.71 million tons.

So far, the first two batches of import quotas for Hengli Petrochemical and Zhejiang Petrochemical were 17 million tons each, accounting for 85% of their planned import volumes. At the same time, the first two batches of import quotas for Shandong independent refineries made up 70-100% of their planned import volumes. It is expected that a third batch of import quotas will be issued this year.

Since the beginning of this year, the government has monitored closely the phasing out of outdated capacity at independent refineries and their use of imported crude oil. In addition, state-owned refineries have also carried out a comprehensive survey on the use of imported crude oil over the years. From these measures, it can be seen that the government is keen to improve the management of the use of imported crude oil and to upgrade the petrochemical industry.


Beijing : Energy Desk  Ho   +81-3-3552-2411Copyright © RIM Intelligence Co. ALL RIGHTS RESERVED.