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Sunday, June 20, 2021

China’s state planner asks state-owned oil companies to report on their use of imported crude

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The National Development and Reform Commission of the People’s Republic of China (NDRC)

  • companies to report on their use of imported crude oil over the past few years
  • NDRC focus on resales and tolling schemes
  • The urgent notice issued to Sinopec Group, China National Offshore Oil Corporation (CNOOC), Sinochem Group, ChemChina, and China North Industries Group

Info via Reuters, citing unnamed sources. 

Hard to not see this as part of China’s current examination of commodity price surges. 



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