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2006 crude, oil products quotas set The crude oil import quota is set at 14.5 million metric tons, or 291,200 barrels a day, while the quota for oil products, including gasoline, jet, diesel, naphtha, fuel oil and low-sulfur waxy residue, is at 8.05 million tons. This year鈥檚 quotas were set at 12.6 million tons for crude and 7 million tons for oil products. High-sulfur fuel oil will again form the bulk of oil product imports as 皇冠体育app鈥檚 fuel oil market is deregulated, while the wholesale markets for the other products are still monopolized by State-owned 皇冠体育app National Petroleum Corp., or CNPC, and 皇冠体育app Petrochemical Corp., better known as Sinopec Group. Under its WTO entry terms, 皇冠体育app is to raise its quotas for non-State-owned traders by 15 percent each year from its accession in December 2001, until its oil wholesale market is fully deregulated. Non-State-owned traders will have to apply for their quotas from the Ministry of Commerce Oct. 1-31, according to a notice on the ministry鈥檚 Web site. The four State-owned traders recognized by the WTO 鈥� 皇冠体育appoil, Unipec,
Sinochem and Zhuhai Zhenrong 鈥� are no longer restricted by the quota system
since 2005. |
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