The Ministry Of Commerce Adjusts The Quota Of Imported Oil Products From Private Enterprises &Nbsp, And Fails To Apply For Quotas.
The Ministry of Commerce issued the announcement on the adjustment of import volume of non oil products in 2011.
Private oil companies
The permitted volume of imported oil products (hereinafter referred to as "import quotas") is redistributed, and enterprises that have not obtained import quota of refined oil can apply.
Industry experts believe that the main reason for the MOFCOM's adjustment is that private oil companies have small profit margins and insufficient digestion capabilities, and the market competition environment for private oil companies needs to be improved.
According to the notice, local enterprises holding the non state trading import quota of refined oil (fuel oil) in 2011 are expected to fail to complete the import tasks by the end of this year. The non completion part should be returned to the Ministry of commerce through the local commercial authorities before May 31st.
The Ministry of Commerce will redistribute the returned import quotas.
In fact, this is the second time since the Ministry of Commerce approved the approval of private import qualification of fuel oil in 2008.
Lv Bin, an analyst with information fuel oil, said that on the one hand, because of the rise in international oil prices, private enterprises did not have or had little oil import qualification, but only imported fuel oil.
fuel oil
originally
Import price
Refining costs are higher, and higher tariffs and excise taxes are needed. The profit of refining refineries with fuel oil is much lower, resulting in insufficient start-up of many private oil companies. On the other hand, compared with petrochemicals, private oil companies are also in a weak position in the domestic market because of their lack of cost advantages, and even many private oil companies are "nationalized" through the downstream sales link.
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