CHINA’S small, independent refiners are set to raise their crude oil imports again in 2017 on expectations that the government will keep their intake quotas steady, market participants said.

    China has given final and preliminary approvals to roughly 1.8 million barrels per day (bpd) in crude oil import quotas, as part of efforts to reform the industry, boost competition and attract private investment.

    More than 20 refiners — 18 in the coastal province of Shandong — have either applied for or been granted quotas for the use of imported crude oil.

    Separately, the commerce ministry said in July 2015 that China will allow more refiners to apply for import licenses.

    The government has promised to open up the crude import business, which has long been dominated by State oil giants — Sinopec and PetroChina.(SD-Agencies)