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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;

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