Private Refiner in China Gets Export License, an Industrial Info Market Brief

In an unprecedented move in the history of oil refining in China, the government has awarded an export license to its first non-state-owned refining company, Zhejiang Petrochemical Company Limited (ZPC), according to news accounts.

The license allows ZPC to directly sell oil products to the international market, competing against state-owned refiners, and by calculated planning, also helps ease oversupply pressure in China's domestic market.