On September 21, the Ministry of Commerce website announced that the total amount of non-state trading crude oil imports allowed in 2011 was 29.1 million tons.
According to the announcement, the application conditions for non-state trading of crude oil in 2011 are consistent with those for 2010, including: registered capital of no less than 50 million yuan***, no less than 20 million U.S. dollars of bank credit, and no less than 50,000 tons of crude oil The right to use water transport terminals (or railroad ports with an annual capacity of 2 million tons for reloading), storage capacity of not less than 200,000 cubic meters of crude oil storage tanks, and crude oil import performance in the past two years; owning professionals engaged in petroleum international trade (at least 2 people); companies have no smuggling, tax evasion, evasion, arbitrage records; and other factors that need to be considered.
According to the information of the Ministry of Commerce website, the import quota quota for crude oil in 2010 was 25.3 million tons, an increase of 3.8 million tons in 2011 over the previous year. The estimated 29.1 million tons of quotas accounted for about 14% of China's total crude oil imports in 2009.
According to statistics from China Customs, China imported 203.8 million tons of crude oil in 2009, and net purchases of crude oil reached 198.7 million tons.
China's crude oil imports are dominated by PetroChina and Sinopec. After the publication of “Ngonggong 36†in 2005, the Ministry of Commerce issued two documents on crude oil and refined oil imports. By setting thresholds and qualifications, the Ministry of Commerce has granted more than 30 private enterprises import rights in the crude oil business.
Although the Ministry of Commerce has quotas on import quotas for crude oil every year, in actual implementation, private oil companies must obtain the plans for the production (refining) of the two major oil companies to import crude oil. The actual operation of imported crude oil is very difficult.