It was the first time that a private Chinese oil company won such permission. Refined oil-products export permission had thus far only been granted to state-run enterprises.
For now, only a handful of large state-owned Chinese refiners, including Sinopec Group, CNPC, CNOOC, the Sinochem Group, and the China National Aviation Fuel Group Ltd., are allowed to export refined oil products.
ZPC has been undertaking a crude oil refinery project with a capacity of 40 million tonnes per year in Zhoushan, Zhejiang Province.
The export license will broaden the market for ZPC's refined oil products, and increase the competitiveness of their low-sulfur fuel oil in the global market, according to the Zhoushan Bureau of Commerce.