China's Sinochem receives export quota

Oil

China's Sinochem has become the first refiner outside of Sinopec, PetroChina and CNOOC to receive an oil product export quota, Reuters reports. The firm received an export allowance of 450KT for this year of 200KT of gasoline, 150KT of diesel and 100KT of kerosene. No quota has been awarded for 2016 as of yet. More independent refiners are expected to receive export quotas moving forward as China reforms its energy sector.