Shandong Fuyu Chemical to Get Imported Crude Quotas

Shandong Fuyu Chemical is applying for the quotas of imported crude oil, and the check on the application is coming to an end soon. It is primarily confirmed that Shandong Fuyu Chemical will be approved to use 1,640kt of imported crude oil each year. As of October 20, a total of 29 independent refineries have been approved to process imported crude oil, with the total volume of 95,250kt/year.

In the meantime, Shandong Fuyu Chemical, Shandong Yuhuang Shengshi Chemical, Xintai Petrochemical and Qingyishan Petrochemical are also applying for the quotas. The total application from the above four independent refineries is 8,080kt/year. If the application is approved, China’s independent refineries will have the imported crude oil quotas of over 100 million tons each year.