Crude Oil Quotas for Baota Petrochemical Group to Be Cut

China National Development and Reform Commission announced that the allowed processing volume of imported crude oil for Baota Petrochemical Group will be reduced to 2,160kt/a from 6,160kt/a. Baota Petrochemical promised to build 200 million m3 LNG storage capacity, but the capacity has not been finished by now. Accordingly, China National Development and Reform Commission cut its quotas. According to the notice, the capacity can be finished before August 20, 2019.