Small refiners get help to import crude
Print Edition
SMALLER refining enterprises in China can import crude oil if they meet certain technical and environmental standards, the National Development and Reform Commission said in a website notice yesterday.
These firms, including those acquired by state-owned enterprises, will be able to access imported oil if they are willing to abandon old environment-damaging equipment or set up facilities to store natural gas, NDRC said.
China is beefing up efforts to tackle problems arising from unapproved refining activities by firms struggling with small production and low technical capacity.
The NDRC said the notice aims to improve the structure in the refining industry with a market mechanism as well as imposing tougher requirements on product quality, environment protection, safety and energy consumption.
The NDRC move was seen as encouraging private capital in a sector dominated by big state-owned firms.
State-owned Sinopec and PetroChina account for nearly 90 percent of imports, while the balance is imported by companies affiliated with the big-two enterprises.
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