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Allowing independent refiners to import could boost demand
China’s Ministry of Commerce announced today that it will grant licenses to two independent refineries to directly import crude oil as the country works to allow more room for independent players in its oil and gas markets, reports Economic Times. Up until now, about 90% of China’s crude imports have gone to state-controlled majors like Sinopec Corp (ticker: SNP).

Beijing has already widened the pool of companies to which it will award quotas for imported crude, starting early this ...

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