ANNOUNCEMENT 25 Aug 2015
August 25th, 2015 - China announced a new import licence for two independent oil refiners.
NUMBER OF INTERVENTIONS
PRC Ministry of Commerce, August 25th, 2015. (关于利津石油化工厂有限公司和山东垦利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 August 25th, 2015, the Chinese government announced it was approving Lijin Petrochemical Plant Co., Ltd. and Shandong Kenli 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).