IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 23 May 2015 | Removal date: open ended

Import licensing requirement

On May 23rd, 2015, the Chinese Ministry of Commerce announced that it would be implementing a new application process for independent oil refiners to be granted permission to import crude oil for refining.

Previously, the only way for this to occur was through special, one-off concessions made by the authorities to such firms.

With an official process in place for approval, a huge market was opened up. Between July 2015 and the end of 2016, independent import demand of 1.48 million barrels per day of crude oil was created.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

120 Crude petroleum & natural gas
2709 Petroleum oils and oils obtained from bituminous minerals, crude.
270900 Petroleum oils and oils obtained from bituminous minerals, crude.

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