In 2021, the National Development and Reform Commission conducted a review of the use of crude oil quotas in refineries, and then the implementation of the consumption tax policy on imported diluted bitumen, light cycle oil and other raw materials, and the implementation of special rectifications in the refined oil market and a series of policies that affect the crude oil quotas of refineries. Issued.
On August 12, 2021, with the release of the third batch of crude oil import allowances for non-state trading, the total amount is 4.42 million tons, of which Zhejiang Petrochemical was approved for 3 million tons, Oriental Hualong was approved for 750,000 tons, and Dongying United Petrochemical was approved for 42 10,000 tons, Hualian Petrochemical was approved 250,000 tons. After the issuance of the third batch of crude oil non-state trading allowances, the 4 independent refineries in the third batch list have all been approved in full in 2021. Then, let’s take a look at the issuance of the three batches of crude oil quotas in 2021.
Table 1 Comparison of crude oil import quotas between 2020 and 2021
Remarks: only for enterprises with delayed coking equipment
It is worth noting that although Zhejiang Petrochemical received a full 20 million tons of crude oil quota after the third batch of crude oil quotas were decentralized, the 20 million tons of crude oil Far from meeting the needs of the company. Beginning in August, Zhejiang Petrochemical’s plant reduced production, and the planned output of petroleum coke was also reduced from 90,000 tons in July to 60,000 tons, a 30% year-on-year decrease.
According to the analysis of Longzhong Information, there are only three batches of crude oil non-state import allowances issued over the years. The market generally believes that the third batch is the last batch. However, the country has not clearly stated that Mandatory regulations. If only three batches of crude oil non-state import allowances are issued in 2021, the production of petroleum coke in the later period of Zhejiang Petrochemical will be worrying, and the volume of domestic high-sulfur petroleum coke commodities will also further decline.
On the whole, the reduction of crude oil quotas in 2021 has caused certain difficulties for refineries. However, as a traditional refinery, production and operation are relatively flexible. Imported fuel oil may fill the gap in crude oil quotas, but for large refineries , If the fourth batch of crude oil quotas are not decentralized this year, it may affect the operation of the refinery to a certain extent.
Post time: Aug-16-2021