ANNOUNCEMENT 25 Feb 2016

January 25th, 2016 - China announced a new import licence for four independent oil refiners.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

PRC Ministry of Commerce, January 25th, 2016. (关于山东汇丰石化集团有限公司、山东京博石油化工有限公司、山东天弘化学有限公司和山东寿光鲁清石化有限公司原油非国营贸易进口资质的公示)
http://www.mofcom.gov.cn/article/b/e/201601/20160101241998.shtml

Inception date: 25 Jan 2016 | Removal date: open ended

Import licensing requirement

On January 25th, 2016, the Chinese government announced it was approving four firms as licensed non-state crude oil importers. The four firms are:

  • Wonfull International Energy Pte Ltd. (AKA Shandong Huifeng Petrochemical Group Ltd.)
  • Shandong Jingbo Petrochemicals Co.,Ltd.
  • Shandong Tianhong Chemical Co., Ltd.
  • Shandong Shouguang LuQing Petrochemical Co., Ltd.

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 SECTORS

 

AFFECTED PRODUCTS