China begins issuing second batch of 2026 crude import quotas to refiners
At least one major Chinese independent refiner has received its second batch of 2026 government quotas for crude oil imports, two people with direct knowledge of the matter said on Tuesday, as more refiners expect to be notified about their allocations soon.
The independent refiner located in eastern China received about 11 MM metric tons (t), or 220,000 bpd, for the first two batches of quota combined, one of the sources said.
The newest allocation, combined with a small batch issued in late November, accounts for about 70% of the refiner's total quota for next year, the person said. The sources declined to be identified or name the firm as the information was not public.
China's Ministry of Commerce, which issues crude oil import quotas, did not respond to a fax seeking comment.
Independent refiners, also known as teapots, in the eastern refining hub of Shandong province expect to receive their quotas later on Wednesday or in the coming days, two trade sources close to the situation said.
The first two batches of quota combined for each teapot are expected to account for 70% of their yearly total, they added.
In 2025, the first two batches issued accounted for each refiner's full-year allocation. It was not immediately clear why Beijing reduced the issued volume.
China, which regulates oil imports by its independent refiners under a quota system, has set the total allocation at 257 MMt for non-state-owned firms in 2026, unchanged from a year earlier.
In late November, Beijing issued about 8 MMt of quota as the first batch for 2026, to be used for cargoes arriving by the end of this year.
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