According to the Ministry of Commerce on October 22, the Ministry of Commerce announced the total allowable amount, application conditions, and application procedures for non-state-owned crude oil imports in 2025. The allowable amount for non-state-owned crude oil imports in 2025 is 257 million tons.
The application requirements include: having a performance in using the allowed amount of crude oil imports in the past 2 years (January 2023 October 2024, the same below) or having the qualification to use imported crude oil approved by the national industry regulatory department. The right to use a crude oil water transportation terminal with a capacity of no less than 50000 tons (or a railway port with an annual loading capacity of 2 million tons), as well as the right to use crude oil storage tanks with a capacity of no less than 200000 cubic meters. Bank credit shall not be less than 20 million US dollars (or 140 million RMB), etc.
Mr.Kevin