Asia
China· HeyuanChina authorizes 2027 crude oil import quotas for non-state firms
China's commerce ministry has authorized a non-state crude oil import quota of 257 million metric tons for 2027, releasing application conditions and procedures.
Background
China, the world's largest crude oil importer, manages its energy supply through a quota system for non-state companies. These quotas are crucial for independent refiners, often referred to as 'teapots,' to access international markets and meet domestic demand. The policy reflects China's ongoing efforts to balance energy security with market liberalization.
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China authorizes crude oil import quotas for non-state firms for 2027
First report 3h agoLast update 2h ago1 takes 1
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started 3h ago•Last update 2h ago
Reports on the authorization and details of China's crude oil import quotas for non-state firms in 2027.
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