Source:Agencies-Global Times Published: 2015-4-30 0:53:02
China's Shandong Dongming Petrochemical Group expects to get approval in the third quarter to start importing crude, which would allow the country's largest independent refiner to operate its refinery at full capacity, Reuters reported on Wednesday.
The company has applied to Chinese authorities to import crude and may receive a quota of about 5 million tons per year, Chairman of Dongming Li Xiangping said.
Dongming is partly owned by a unit of China National Petroleum Corporation, but last month Qatra for Investment & Development and Hamad Bin Suhaim Enterprises signed an initial deal to acquire 49 percent of the refiner and invest in oil and gas infrastructure in China.