How private refineries purchase crude oil
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What are the channels available for local or private refineries to purchase crude oil? If I want to purchase domestic crude oil, are there any public trading platforms available, and are quotas required? Can any company buy it? Are **quotas required** for purchasing crude oil or fuel oil from abroad? Where can I buy it? **Are there any relevant laws, regulations, or rules? Please also have industry experts and professionals provide some explanations. Thank you very much.
Refer to Baidu’s Special Topic No. 8 on crude oil trading: How local refineries purchase imported crude oil https://baijiahao.baidu.com/s?id=1674825368944426715&wfr=spider&for=pc
Private refineries mainly obtain crude oil through the following channels: 1. Domestic crude oil trading markets: There are several public crude oil trading markets in China, such as the Shanghai International Petroleum Exchange (INE), where crude oil futures can be traded. 2. Oil trading companies: Private refineries can purchase crude oil by negotiating directly with oil trading companies. 3. Crude oil imports: Private refineries can purchase crude oil from overseas by applying for import quotas on their own or by partnering with domestic refineries that already have such quotas. The situation in which quotas are required for domestic crude oil trading refers to participation in crude oil futures trading; no specific quotas are needed for spot trading alone. **The specific policies regarding crude oil import quotas are formulated and managed by the **energy regulatory authority. Buying overseas crude oil or fuel oil also requires **quotas and relevant procedures. Private refineries can purchase from overseas suppliers by applying for their own import quotas or by partnering with companies that already have such quotas. At the same time, it is also necessary to comply with **relevant laws, regulations and provisions, including requirements related to foreign exchange management, customs declaration, import duties, etc. In addition to quotas and policy requirements, private refineries should also pay attention to factors such as market conditions, supply chain security, and quality control when purchasing crude oil. For specific laws, regulations, and rules, it is recommended to consult the relevant experts in energy management departments or professional institutions to obtain accurate information. .
You can find information on the **crude oil quota allocation mechanism on the Ministry of Commerce’s website.
Are they these two? \"Total Allowances for Import of Crude Oil under Non-state Trade in 2020, Application Conditions and Procedures\" (Ministry of Commerce Announcement No. 48 of 2019) and \"Announcement on Application Conditions, Allocation Principles and Relevant Procedures for Allowances for Import of Refined Oil (Fuel Oil) under Non-state Trade in 2020.\"
In the domestic market, a quota system is in place; the purchase of crude oil is subject to fixed limits, and it’s not possible for a company to buy as much as it wants
Domestic products probably do not require quotas, while imported products need **allocated quotas.
Where can I buy crude oil domestically? A gas station, right?
There were slight changes in the policies for 2023, and the second batch of quota allocations for this year has been issued.
Which gas station sells crude oil? . . . Find the three major oil companies. . . Or a trading company