Current Location:Home > Company News > >Content Page
2018-04-20 13:37:17
Reuters
Chinese private chemical giant Hengli Group has been granted state approval for an annual crude oil import quota of 20 million tonnes, the group's listed unit Hengli Petrochemical said in an exchange filing late on Thursday.
The approval came from the National Development and Reform Commission (NDRC), the company said, without specifying how much of the quota will be available this year for its new refinery being built in the northeast Chinese port city Dalian.
The private group that started as a chemical fiber manufacturer, is expected to start trial operations at its greenfield 400,000 barrels per day refinery in October.
"We will start using our quota this year. Depending on the size of quotas the Commerce Ministry issues us, we hope to get enough allowances for the refinery to start trial operations in October," a senior official from Hengli said.
"For next year, we are confident of getting 20 million tonnes of allowances from the government."
The official declined to be named as he was not authorized to speak to media.
For domestic fuel sales, he said the company will work with state refiners Sinopec and PetroChina.
Company sources have said earlier that Hengli has also applied for quotas to export refined fuel.
