On Thursday, China’s new refiner Jiangsu Eastern Shenghong Co. said that it has won the imported crude quota for 2021 from the government for its new refining and chemical unit.
The approval will enable its 320,000 bpd refinery in Lianyungang in east China the use 2 million tonnes of imported crude this year. The complex’s construction is complete and it is ready for the first production.
The company will also be able to use 15.89 million tonnes of imported crude oil in 2022 and 16 million tonnes from 2023.
The refinery’s daily processing capacity equals roughly 3% of the country's total crude oil imports.
