Off the wire
• 1st LD Writethru: Indian air force plane goes missing in Bay of Bengal  • China punishes another 26,900 officials in frugality campaign  • 2nd LD: DPRK national airliner force-lands in China's Shenyang  • Greek lawmakers abolish bonus seat system, lower voting age  • Restrictions, shutdown paralyses life in Indian-controlled Kashmir for 14th day  • Afghan battle leaves 22 dead in northern district  • 1st LD: Search for missing Malaysia Airline flight MH370 to be suspended: officials  • Roundup: Indonesia challenges Australia's plain packaging measure on cigarettes  • Urgent: Indian Air Force plane missing over Bay of Bengal  • Albania's consumer confidence slightly up in Q2 2016  
You are here: 　 Home

Private refineries emerging as major crude importers

Xinhua, July 22, 2016 Adjust font size:

Private oil refineries in Shandong Province on east China's seaboard brought in 8.36 percent of all the crude oil imported to China in the first half of 2016, as they capitalized on the government's decision to give them green light in such imports, Xinhua has learned.

These refineries in Shandong imported 15.61 million tonnes of crude between January and June, which cost 27.77 billion yuan (4.16 billion U.S. dollars) and accounted for 70.2 percent of the province's total crude imports, officials with the provincial department of commerce said.

The nation as a whole imported 186.53 million tonnes of crude in the period.

It was only last year that the central government gave private refineries permission to import crude.

The permission, in the form of import and processing quotas, was a big boost to Shandong, an economic powerhouse in the country and also home to the majority of China's private refineries.

Under the rules set by the government, the refineries have to be granted a quota for crude imports from the Ministry of Commerce, as well as a quota to process imported crude from the National Development and Reform Commission.

Eleven refineries in Shandong have secured import quotas, totalling 41.43 million tonnes, which makes up 75.9 percent of all the quotas granted to private refineries across China. They imported 7.488 million tonnes of crude in the first quarter of the year, accounting for 8.2 percent of the country's total crude import in the period, according to the department of commerce. Endi