Skip to main content

Kerui Petroleum to build onshore export/import gateway

Published by , Editorial Assistant
Hydrocarbon Engineering,


Kerui Petroleum has announced that the company has been qualified by the Authorized Economic Operator (AEO) Program of the World Customs Organization (WCO), to become one of China’s first AEO-certified members. Meanwhile, China’s first Customs Inspection Station for petroleum equipment set up at Kerui also passed evaluation to come into operation on 13 December 2016.

AEO is an enterprise grading certification system initiated by WCO to support secure and smooth global trade. AEO-certified members enjoy such benefits as a lower frequency of security inspections, precedence for inspection, simplified documentation verification for imported goods and precedence for customs clearance. In case an international trade is interrupted, the AEO-certified members will still enjoy priority for inspection and expedited customs clearance.

As an AEO-certified member, Kerui Petroleum will not only have a designated coordinator from the General Administration of Customs of China (GACC), but also be entitled with priority customs clearance services and can even enjoy customs clearance convenience at other AEO-certified Customs in countries and regions that have mutual recognition with China. Meanwhile, the Customs Inspection Station will serve as an 'onshore gateway' to overseas markets, benefiting Kerui Petroleum and even the whole petroleum equipment industry in Shandong Province. The Station will not only greatly improve the efficiency of inbound/outbound logistics of equipment, but also greatly reduce the logistics costs. For example, the clearance time for a container can be reduced from three days to just one day, and the cost can be reduced by around 30%.

The AEO certification and the Customs Inspection Station provide a new concept and a new model for China’s petroleum equipment industry and heavy equipment import and export industry. Moreover, combining the strength of Kerui and public logistics services, it will be a strong support for Kerui Petroleum to expand its cross-border e-commerce business.

Read the article online at: https://www.hydrocarbonengineering.com/refining/27022017/kerui-petroleum-to-build-onshore-exportimport-gateway/

You might also like

The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process

In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.

Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Downstream news Asia Pacific downstream news