China's Teapot Refineries Look to Regain Lost Ground, an Industrial Info Market Brief
China's Teapot Refineries Look to Regain Lost Ground, an Industrial Info Market Brief
Attachment: Shandong Teapots
China's independent refineries, collectively called "teapots," may see the proverbial silver lining soon, thanks in part to an oil price war between Saudi Arabia and Russia following a recently deadlocked OPEC+ meeting earlier this month aimed to curb the world's oil production by 1.5 million barrels per day. These refineries, mainly located in the eastern province of Shandong, stand to benefit from the sub- $40 price per barrel being traded currently, and with the entry of Venezuela in the fray giving discounts of up to $23 per barrel, this could revitalize crude tenders in preparation to ramping up refining activities starting April, now that China's COVID-19 peak has been reached and appears to be over.
Industrial Info is tracking both independent and state-owned oil refineries in China for any movements in this transition period of recovery from a tepid past two months. See map below for refinery locations.
Subscribe Now!(All Fields Required)
Related Articles
Articles related to this company
- France Plans $55 Billion in Windfarms as Offshore Projects Gain Momentum
- Africa's Fertilizer Demand Sparks $5.8 Billion of Projects
- Poland's PGE Plans $7 Billion Renewable Energy Push
- Peru's Runoff Presidential Election Could Impact $45 Billion in Mining Proj...
- Industrial Construction Activity Up 37% So Far in 2021