SunSirs: China Announces 2026 Quota for Non-State-Owned Crude Oil Importers
October 23 2025 09:31:01 SunSirs from China News Service (lkhu)
The permitted crude oil import volume for 2026 is set at 257 million metric tons.
Applicants must meet the following conditions:
Demonstrated utilization of their allocated crude oil import quota during the past two years (January 2024 – October 2025), or hold official qualification from the national industrial regulatory authority to process imported crude oil;
Possess usage rights to a crude oil marine terminal (or a railway terminal with an annual transshipment capacity of at least 2 million metric tons), with a minimum handling capacity of 50,000 metric tons per shipment;
Have access to crude oil storage facilities with a total capacity of no less than 2 million cubic meters;
Maintain bank credit lines of at least USD 20 million (or CNY 900 million);
Employ at least two qualified professionals engaged in international petroleum trading;
Operate in full compliance with national laws and regulations concerning workplace safety, environmental protection, taxation, customs, and foreign exchange management, and have no unresolved violations on record.
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