Date
24 September 2017

Crude import quotas tipped to flow to private sector, paper says

An announcement on the assignment of crude oil import quotas for 2014 is due soon, with private companies expected to receive more allocations, the Shanghai Securities News reported Friday, citing an unnamed official from China National Petroleum Corp. China National Chemical Corp., for example, is set to double its 2013 crude oil import quotas to 20 million metric tons this year, sources said. Jiang Xinmin, deputy director of the National Development and Reform Commission’s Energy Research Institute, said that apart from capital requirements, private firms will have to meet environmental protection standards to be assigned quotas, the report said.

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