China to inspect independents on oil import procedures

摘要

Singapore-China plans to carry out special inspections on independent refiners to ensure they are adhering to rules and procedures required to qualify for importing crude oil and processing it, the country’s top policy planner, the National Development and Reform Commission, said late Thursday. The move is seen as yet another step to tighten processes governing crude imports and their use, and comes less than two months after the NDRC unveiled steps to tighten tax norms for independent refiners following complaints that they were avoiding taxes and reselling their cargoes.