Chinese quota of crude oil imports in 2016 has been more than doubled, according to a recent release by the China's Ministry of Commerce (MOC).
The MOC would allow as much as 87.6 million tonnes of crude oil imports in the form of non-state trade in 2016, in comparison of 37.6 million tonnes in 2015 and 29.1 million tonnes for 2014.
Applicants for crude oil imports quota shall have records on crude oil imports in last two years or qualification to process imported crude oil, said the release.
The National Development and Reform Commission (NDRC), China's top economic planner, approved 11 local refineries to process as much as 49.19 million tonnes of imported crude oil since July 2015.
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