![]() The government is currently probing several teapots over tax irregularities. The allocations fit with Beijing’s strategy to reform the sector to cut pollution and crack down on unethical practices. ![]() These companies operate large, sophisticated plants that are less pollutive than the smaller so-called teapots, most of which are in Shandong province. That was 11% less than in the first tranche for this year.Īlmost 40% of the quota was awarded to three mega-refineries: Zhejiang Petroleum & Chemical Corp., Hengli Petrochemical Co. China’s government cut the amount of crude oil import quota awarded to independent oil refiners and favored large, complex processors as it seeks to reform the sector.īeijing granted 109 million tons of allowances to 42 private refiners in the first batch for 2022, according to officials from companies that received notification of the allowances.
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