China releases first batch of 2023 crude oil import quotas

SINGAPORE: China has issued the first batch of crude oil import quotas for 2023, mainly to independent refiners, four sources familiar with the matter said on Saturday.

The volume issued is about 20 million tonnes, one source said, nearly three months earlier than usual, in an attempt to encourage refiners to boost production.

Last month, Beijing issued a third batch of quotas for 2022 that raised its non-state import quotas to 164.61 million tones this year.