November 23, 2017 / 4:00 AM / 2 months ago

China independent refiners group applied for 2018 fuel export quotas

SHANGHAI, Nov 23 (Reuters) - A newly formed group of China’s independent oil refiners filed an application with the country’s Ministry of Commerce on Wednesday for fuel export quotas next year, a source with one of the group’s member companies said on Thursday.

A group of six independent refiners set up a $5 billion joint venture to compete with state-owned oil companies and privately owned chemical companies in September.

The government has excluded independent plants this year from exporting refined fuel, having granted quotas only to state refiners.

Reporting by Meng Meng and Chen Aizhu; Editing by Christian Schmollinger

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