China will allow non-state-owned companies to increase oil-product imports by as much as 15 percent next year as energy demand rises. Privately owned companies will be able to purchase as much as 9.26 million metric tons of oil products in 2007, the Ministry of Commerce said.

This year's quota was 8.05 million tons. Companies matching certain criteria, such as those with registered capital of more than 50 million yuan (US$6.4 million) and with no record of violating regulations, can apply for an import quota from January 1-15, the ministry said.

China is encouraging both state and private oil companies to secure oil and gas supplies locally and abroad to meet domestic demand.

On October 11, the government raised the crude oil import quota for private oil companies to 16.7 million tons for next year, from 14.5 million tons in 2006.

Source:未知