Industry News

China Allows More Refiners to Import Crude Oil

China will allow more refiners to apply for licenses to directly import crude oil, the country's commerce ministry said on Thursday, as Beijing continues to loosen its grip on a sector long dominated by state-owned enterprises.

Companies that meet certain environmental and capacity requirements can now apply for import licenses, the ministry said in a statement posted on its website (

Imports under so-called "non-state trade" will be limited to around 752,000 bpd for 2015 late last year. China imported a total of 6.16 million bpd in 2014.

(Source: Reuters dated 23 July 2015)