ANNOUNCEMENT 16 Nov 2011
November 16th, 2011 - The Chinese government published a list of non-state enterprises officially sanctioned to import fuel oil for refining.
NUMBER OF INTERVENTIONS
PRC Ministry of Finance, November 16th, 2011. (关于公布2012年成品油（燃料油）非国营贸易进口企业审核情况的通知)
In November 2011, the Chinese government added 20 non-state firms to the roster of those allowed to import fuel oil for refining (see below for full list).
Chinese policy dictates that non-state importers must acquire this permission to carry out any fuel oil imports, ensuring state-run firms have an advantage.
In order to qualify for these licenses, independent firms must satisfy various conditions, mainly relating to the size of the firm, e.g. it must have a credit line of USD 20m (specifically USD, not Chinese RMB) and be prepared to import a minimum of 50,000 tons of fuel oil per year.
The total non-state national fuel oil import quota is 16.2m tonnes.
Also in the announcement was included a list of the following non-state firms whose fuel oil import permission was not renewed:
The reasons provided for this are largely due to the firms not submitting the correct documents, or failing to meet the import requirements in the previous year.