ANNOUNCEMENT 10 Aug 2015
August 10th, 2015 - China announced a new import licence for two independent oil refiners.
NUMBER OF INTERVENTIONS
PRC Ministry of Commerce, August 10th, 2015. (关于山东东明石化集团有限公司和盘锦北方沥青燃料有限公司原油进口非国营贸易进口资质的公示)
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).