China issues 122.59mln T in 1st round of oil import quotas -sources
China has issued the first batch of crude oil import quotas for non-state companies at 122.59 million tonnes in 2021, two sources with knowledge of the matter said on Monday, up 18% from the first round for 2020.
The increase follows the launch of new refining facilities such as the Zhejiang Petrochemical Corp (ZPC) plant in the eastern port city of Zhoushan. The ZPC plant last month started operations at a 200,000 barrel per day (bpd) crude processing unit.
Beijing had said in early November that it would raise the non-state crude oil imports quota for 2021 by 20% to 243 million tonnes.