The Chinese government is widening access to crude imports for domestic independent refiners, as it continues to liberalise the country’s downstream sector. Beijing is inviting more teakettle refiners to apply for “non-state licences” to import crude. Applicants for the new licences must be qualified oil products wholesalers, with at least one crude unit of more than 40,000 b/d of capacity, at least 2.19mn bl of storage, a berth that can dock ships carrying 365,000 bl of crude and access to at least $1bn of bank credit, among other requirements.
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