China's largest local refinery Shandong Dongming Petrochemical Group has obtained a quota to export 10,000 tonnes of product oil in the fourth quarter of 2015, said a research note by market information supplier JYD Online Co., Ltd. on Tuesday.
Shandong Dongming Petrochemical Group has already been working to execute export operations, according to an industry insider.
The export quota of 10,000 tonnes has more symbolic meaning rather than economic implications as product oil usually is exported in larger quantities in one go, according to industry insiders.
It's learnt that Lihuayi Group Co., Ltd., Dongying Yatong Petrochemical Co., Ltd. and Shandong Kenli Petrochemical Group Co., Ltd. and other local refineries also are in the process of applying for product oil export quota.
Latest comments