China's first batch of 2022 crude oil import quotas 11% below year earlier - sources

Credit: REUTERS/CHINA STRINGER NETWORK

China has issued its first batch of 2022 crude oil import quotas to mostly independent refiners, totaling 109.03 million tonnes, 11% below the first allotment in 2021, according to five industry sources and a document reviewed by Reuters.

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SINGAPORE, Dec 30 (Reuters) - China has issued its first batch of 2022 crude oil import quotas to mostly independent refiners, totaling 109.03 million tonnes, 11% below the first allotment in 2021, according to five industry sources and a document reviewed by Reuters.

Among the 42 companies granted quotas, the country's top three private refiners -- Zhejiang Petrochemical Corp (ZPC), Hengli Petrochemical 600346.SS and Shenghong Petrochemical -- together won 41.95 million tonnes, about 38% of the total.

ZPC, China's single largest refiner with total crude oil processing capacity of 800,000 barrels per day, was awarded 20 million tonnes, followed by Hengli at 14 million tonnes and Shenghong 7.95 million tonnes, according to the document.

China has set total crude import quotas for non-state companies in 2022 at 243 million tonnes, the same level as it initally planned for 2021.

China issued 122.59 million tonnes permits under the first batch of quotas for 2021. Total issuance in 2021 was smaller than planned at about 189 million tonnes.

(Reporting by Chen Aizhu and Florence Tan; editing by Richard Pullin)

((aizhu.chen@thomsonreuters.com; Reuters Messaging: aizhu.chen.reuters.com@reuters.net))

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