ANNOUNCEMENT 14 Jun 2016

June 14th, 2016 - China announced a new import licence for an independent oil refiner.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

PRC Ministry of Commerce, June 14th, 2016. (关于山东海右石化集团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/201606/20160601338018.shtml

Inception date: 14 Jun 2016 | Removal date: open ended
Still in force

Import licensing requirement

On June 14th, 2016, the Chinese government announced it was approving Shandong Haiyou Petrochemical Group Ltd. as a licensed non-state crude oil importer.

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