China’s newest mega refiner, Yulong PetrochemicalC}, has received 300,000 metric tons of crude oil import quotas for 2023, according to two domestic energy consultancies, which will enable the refinery to secure feedstocks for its trial run.

Located in China’s eastern province of Shandong, the 400,000 barrels per day refinery is expected to start up its crude distillation units in the first quarter of 2024.

The refinery is also building a 1.5 million tons per year ethylene complex, which is aimed to be commissioned by end 2024.

Yulong was notified about the quota directly by the Ministry of Commerce, said the two China-based consultancies, JLC and Longzhong.

China’s commerce ministry did not immediately respond to a Reuters inquiry seeking comment.

Yulong’s major shareholders, Nanshan Group and Shandong Energy Group, also cannot be reached for comment outside working hours.
Source: Reuters (Reporting by Muyu Xu in Singapore and Andrew Hayley in Beijing, Editing by Louise Heavens)