ZPC receives 12MT crude oil import quota

Oil

The independent Chinese refiner Zhejiang Petroleum Corporation (ZPC) has reportedly been issued with a 12MT crude oil import quota for the duration of 2021, according to Reuters citing a statement from the Ministry of Commerce. ZPC is the operator of China’s largest refinery and has an overall processing capacity of around 800K b/d, however the producer had previously been forced to idle some of its facilities earlier this year due to insufficient quotas and logistical restraints. Across 2021 ZPC will now have been allocated with a total 32MT of crude imports, the largest of any independent refinery in China, with the country’s overall quota now set at 189.14MT, up from 184.55MT in 2020.