BEIJING: China independent refiner Xinhai Petrochemical in eastern Jiangsu province, is now on track to receive its first crude oil import quotas for a total of 2.3 million mt/year (46,000 b/d), China Petroleum and Chemical Industry Federation, which reviews quota applications, said on its website Friday. The government regulates China’s crude imports, but CPCIF, which is not affiliated to the government, has been appointed to review documentation and make site visits as part of the application review process for crude import quota allocations.
The quotas are subsequently approved by the National Development and Reform Commission and granted by the Ministry of Commerce.
CPCIF conducted on-site inspections over October 26-28, and is seeking public feedback by January 9 regarding the quota allocation.
