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Tue 28 Sep 2010, 07:01 GMT

China sets non-state fuel oil import quotas


Chinese government announces import quotas for non-state companies in 2011.

The Chinese government has announced that it has set the non-state fuel oil and crude oil import quotas for 2011.

The import quota for fuel oil next year has been set at 16.2 million tonnes, which is approximately 15 percent higher than the quotas allotted for 2010.

Non-state traders are those companies that do not include the country's four dominant state traders Sinochem, Unipec, Chinaoil and Zhuhai Zhenrong.

As a member of the World Trade Organisation, China is committed to increasing the amount of crude and refined fuels that non-state firms are able to import by 15 percent every year until 2011.

Next year's crude oil import quota for non-state traders has also been increased by 15 percent to 29.1 million tonnes. The amount is around 14 perccent of the country's total crude imports in 2009.

However, these so called 'non-state' firms are said to be mostly affiliates to the oil duopoly Sinopec and PetroChina.

Furthermore, these companies will have to sell back the crude they import to the duopoly.

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