Reuters, Beijing, November 2-China’s Ministry of Commerce announced that the allowable amount of crude oil imports for non-state trade in 2022 will be 243 million tons, consistent with 2021. The first batch of allowances in 2022 will be issued to eligible enterprises before December 31 this year. Afterwards, the remaining allowable amount will be issued in batches depending on the situation. At the same time, the allowable amount will be added and adjusted in due course according to the situation.
The Ministry of Commerce website published an announcement on Tuesday and pointed out that the allocation also follows the principle of “strict evaluation”. Enterprises that have no import performance in the past two years will no longer arrange the allowable amount; the allowable amount is based on the actual implementation of the eligible enterprises in 2021 and the newly added legal capacity Circumstance calculation is released.
The application conditions are: in the past two years (2020-October 2021), it has the performance of crude oil import or the qualification to use imported crude oil approved by the national industry authority. It has the right to use a crude oil water terminal with a capacity of no less than 50,000 tons (or a railway port with a reloading capacity of 2 million tons per year), and the right to use a crude oil storage tank with a storage capacity of no less than 200,000 cubic meters. Foreign trade operators with a bank credit of no less than US$20 million (or RMB 120 million). (over)
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