China’s Ministry of Commerce will award up to 243 million mt of crude import quotas to the country’s qualified refineries in 2022, the ministry said on its website Nov. 2. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The total volume will remain unchanged from 2021 levels. Qualified refineries should send their application to related authorities by Nov. 19, according to the ministry. The first batch of crude quotas for 2022 will be allocated before Dec. 31, and the remaining will be allocated in the following months, depending on market conditions. In 2021, the ministry has so far allocated a total of 171.75 million mt of crude quotas to 43 qualified refineries, about 4.3% lower than the total allocation of 179.4 million mt to 44 qualified refineries in 2020. The ministry said it might increase quotas if oil companies need to import more crude based […]