China begins issuing second batch of 2026 crude import quotas to refiners, sources say
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China has started issuing the second batch of crude oil import quotas for 2026 to refiners, with at least one major independent refiner receiving approximately 11 million metric tons. This allocation, along with a previous batch, constitutes about 70% of the refiner's total quota for the year. Other independent refiners in Shandong province are expected to receive their quotas soon. The total allocation for non-state-owned firms remains at 257 million tons for 2026, unchanged from the previous year.
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