China Grants Private Refiners Higher Crude Quotas, an Industrial Info Market Brief

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China is granting more crude importation quotas to 17 companies in an effort to bring in more private refining companies and boost domestic production 26.84 million tons (195.93 million barrels) in the second half of 2020.

Companies involved include China National Chemical Corporation (8.6 million tons), Zhejiang Petroleum & Chemical Company (2.4 million tons), Shandong Tianhong Chemical Company (2.2 million tons) and Hengli Petrochemical (Dalian) Refinery (2 million tons). China has allocated 202 million tons for all of 2020, based on information released by China's Ministry of Commerce.

Click here for a list of refining projects in their planning phases across China, and see graph below for a breakdown by province.