China has nearly doubled its naphtha import quotas for 2025, issuing a second batch of allocations to chemical companies as demand surges and cheaper alternatives like propane and ethane face supply disruptions, according to six trade sources.
The new batch, distributed in mid-June, brings China’s total naphtha import quota for the year to approximately 24 million metric tons, up from 12 million tons in 2024. The allocations were extended to 10 chemical firms, including state-owned giants Sinopec and CNOOC, which received 2.49 million and 2.76 million tons, respectively.
ExxonMobil, which launched its 1.6 million ton-per-year cracker in Huizhou in March, also received an import quota, according to traders familiar with the matter.
Naphtha, a refined oil product used primarily as a feedstock in petrochemical crackers, is tightly regulated by Beijing. The government typically distributes quotas annually and does not publicly announce the allocations.
The move to boost naphtha imports comes as U.S. supplies of propane and ethane—more cost-effective alternatives—become less competitive, particularly due to new tariffs and supply chain hurdles.
“A combination of logistical bottlenecks and trade restrictions has made naphtha cracking more attractive,” said a trade source at a major Chinese petrochemical company.
The U.S.-China trade war previously saw China impose tariffs as high as 84% on American propane imports, prompting a shift toward Middle Eastern alternatives. Though duties have since dropped to 10%, the pricing dynamics continue to favor naphtha.
Additional challenges arose this year when the U.S. Commerce Department began requiring exporters to obtain licenses before shipping to China, affecting flows of liquefied petroleum gas (LPG).
According to customs data, China imported 12.14 million tons of naphtha in 2024, and 5.9 million tons in the first five months of 2025. It remains the third-largest naphtha importer in Asia, behind South Korea and Japan.
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