China's macroeconomic planner the National Development and Reform Commission (NDRC) is expected to approve another two local refineries from east China's Shandong province to process imported crude oil, according to recent releases by the NDRC.
Shandong Haiyou Petrochemical Group, located in Rizhao city, is qualified to process 3.2 million tonnes of crude oil each year, according to preliminary review by China Petroleum and Chemical Industry Federation (CPCIF).
Meanwhile, Dongying Qirun Chemical Co., Ltd. would be allowed to process 2.2 million tonnes of imported crude oil each year. The CPCIF issued the preliminary results to solicit public suggestions within a period of two weeks.
Since July 2014, the NDRC has nodded seven local refineries to process imported crude oil with several other pending applications in this regard.
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