ANNOUNCEMENT 28 Sep 2015
September 28th, 2015 - China announced a new import licence for two independent oil refiners.
NUMBER OF INTERVENTIONS
PRC Ministry of Commerce, September 28th, 2015. (关于山东东营市亚通石化有限公司和宁夏宝塔石化集团有限公司原油进口非国营贸易进口资质的公示)
On September 28th, 2015, the Chinese government announced it was approving Dongying Yatong Petrochemical Co., Ltd. and Ningxia Baota Petrochemical Group 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).