IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 10 Aug 2015 | Removal date: open ended

Import licensing requirement

On August 10th, 2015, the Chinese government announced it was approving Shandong Dongming Petrochemical Group Co. Ltd. and Panjin North Asphalt Co. Ltd. as licensed non-state crude oil importers.

Such licenses started being granted in mid-2015 as a result of a policy opening up the crude oil importing industry to independent retailers (see related act).

Licensees must agree to a minimum annual import demand of 50,000 tonnes of crude oil (among other requirements).

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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