22 January 2019

China set to ease rules on crude oil imports, paper says

The central government could soon free private firms of crude oil import quotas under expected reforms to the distribution of crude oil and refined oil products, the China Securities Journal reported Wednesday. China’s five state-owned petroleum companies have not had to secure the official import allocations since 2003 but private firms still need the quotas from the Ministry of Commerce, the report said. The National Energy Administration wrapped up the public feedback phase on the proposed change last year and the National Development and Reform Commission could soon roll it out. 

– Contact HKEJ at [email protected]



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