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China Issues 179.01mn Metric Ton 2024 Crude Import Quota

OIL

Chinese oil import quotas have been released at 179.01mn metric tons for 2024 according to consultancies including JLC and Longzhong – 60% higher y/y.

  • The quotas were issued to 41 companies – mostly independent refiners. The majority of refiners got their whole year’s volume in the latest issuance according to JLC.
  • The quota issued in January last year was 111.82 million tons.
  • Zhejiang Petrochemical Corp, the country's single-largest refiner, was granted a quota of 40 million tons, in line with its annual processing capacity.
  • Beijing previously issued a preliminary 4.68m tons of 2024 quota in late-December.
  • China issued a total of 203.64 million tons of crude oil import quotas for 2023.
Energy BulletsCommodities
Energy BulletsCommodities

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