Major Chinese Crude Oil Refinery Group Open for Collaboration with Potential Suppliers

#1 · October 27, 2024, 10:27 am

Quote from chief_editor on October 27, 2024, 10:27 am
Buyer Overview

A leading player in China’s top 500, this buyer excels in global energy trading and supply chain management, known for exceptional quality and efficiency. With ample import quotas, they’re ready to expand partnerships, focusing on non-sanctioned sources to support China’s energy security. Direct collaboration with major Chinese refinery groups solidifies their strong market position.

In 2023, the group achieved USD 55 billion in revenue. Core areas include commodity supply chains, urban development, financial services, port shipping, and innovation incubation. Their digital supply chain platform integrates global resources, ensuring stable and customized solutions across sectors like metals, energy chemicals, and agriculture.

Key Transaction Terms for Potential Suppliers

Products and Grades: Non-sanctioned crude oil and fuel oil only.

Delivery Locations: VLCC vessels to Qingdao, Aframax/Suezmax vessels to Dongying.

Delivery Terms: DAP North China Sea under Incoterms 2020.

Pricing and Payment: Dated Brent minus USD X/bbl, payable by TT, LC, COD+3 days.

Currency: CNH or USD.

Dongying Port

Supplier Requirements

Only reputable and proven trading companies are welcome. New traders can build trust by presenting evidence of credibility, with opportunities for in-person meetings in China or the UK. Unverified or generic email inquiries lacking background information will not be processed.

Information about China's Crude Oil Import Quota System

China’s crude oil import quota system is a powerful regulatory tool managed by the Ministry of Commerce to control and allocate crude import permits to refiners, especially independent, non-state-owned players. Set up in 2015, the system supports the growth of independent refineries, which now make up a substantial portion of China’s overall crude imports. In 2024, the quota release reached a whopping 179 million metric tons right at the start of the year—a 60% increase from the previous year—signaling rising demand and the importance of a stable crude supply for China’s energy needs.

However, securing these quotas is no small feat! The system is designed to be highly competitive, open only to refiners and trading companies that meet rigorous standards and boast a proven record of compliance and operational excellence. The companies that hold these quotas are recognized among the most reputable in China’s energy sector, with strong infrastructure, financial stability, and trusted market relationships. This exclusivity underlines the prestige of being a quota holder, positioning these companies as respected and reliable players in the global oil supply chain.

Buyer Overview

A leading player in China’s top 500, this buyer excels in global energy trading and supply chain management, known for exceptional quality and efficiency. With ample import quotas, they’re ready to expand partnerships, focusing on non-sanctioned sources to support China’s energy security. Direct collaboration with major Chinese refinery groups solidifies their strong market position.

In 2023, the group achieved USD 55 billion in revenue. Core areas include commodity supply chains, urban development, financial services, port shipping, and innovation incubation. Their digital supply chain platform integrates global resources, ensuring stable and customized solutions across sectors like metals, energy chemicals, and agriculture.

Key Transaction Terms for Potential Suppliers

Products and Grades: Non-sanctioned crude oil and fuel oil only.
Delivery Locations: VLCC vessels to Qingdao, Aframax/Suezmax vessels to Dongying.
Delivery Terms: DAP North China Sea under Incoterms 2020.
Pricing and Payment: Dated Brent minus USD X/bbl, payable by TT, LC, COD+3 days.
Currency: CNH or USD.

Supplier Requirements

Only reputable and proven trading companies are welcome. New traders can build trust by presenting evidence of credibility, with opportunities for in-person meetings in China or the UK. Unverified or generic email inquiries lacking background information will not be processed.

Information about China's Crude Oil Import Quota System

China’s crude oil import quota system is a powerful regulatory tool managed by the Ministry of Commerce to control and allocate crude import permits to refiners, especially independent, non-state-owned players. Set up in 2015, the system supports the growth of independent refineries, which now make up a substantial portion of China’s overall crude imports. In 2024, the quota release reached a whopping 179 million metric tons right at the start of the year—a 60% increase from the previous year—signaling rising demand and the importance of a stable crude supply for China’s energy needs.

However, securing these quotas is no small feat! The system is designed to be highly competitive, open only to refiners and trading companies that meet rigorous standards and boast a proven record of compliance and operational excellence. The companies that hold these quotas are recognized among the most reputable in China’s energy sector, with strong infrastructure, financial stability, and trusted market relationships. This exclusivity underlines the prestige of being a quota holder, positioning these companies as respected and reliable players in the global oil supply chain.