21 February 2019

Private refiners may get crude import licenses, paper says

Private refiners may be granted licenses to import crude oil if they meet National Energy Administration criteria, in a move to break the state-owned oil giants’ oligopoly of the business, the 21st Century Business Herald reported Friday, citing proposed NEA rules. Under the rules, which have been released for public feedback, refiners can apply for the licenses if they have at least 5 million metric tons of annual refining capacity, hold an oil products wholesale license, have storage and transport facilities, and have a debt-to-asset ratio of under 70 percent, the paper said. The applicants must also meet environmental protection, work safety and energy efficiency criteria, the report said.

– Contact HKEJ at [email protected] 



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