China keeps non-state refined oil import quota unchanged for 2020

Source: Xinhua | 2020-01-02

China will keep the quota for refined oil imports by non-state companies unchanged at 16.2 million tonnes for 2020, according to the Ministry of Commerce (MOC).

A statement by the MOC listed the detailed application requirements for the import quota, including the scale of oil storage tanks and bank credit lines.

China is one of the world's largest oil buyers. Customs data showed its imports of refined oil amounted to 27.25 million tonnes in the first 11 months of 2019.