Market Brief
China's Shandong Teapot Refineries Face Trouble, an Industrial Info Market Brief
As the year draws to a close, private refineries in China known as teapot refineries are ramping up output to use up their crude import quotas for 2019 in order to apply for more quotas next year. China's independent Shandong refineries are facing a two-fold problem, a crude oil importation limitation as well as a wave of new multibillion-dollar integrated petrochem complexes that may see them consolidating, or risk going out of business altogether. Larger oil producers have maintained stable throughput levels. Click here for a list of Shandong refineries and see map below.
Released Friday, December 13, 2019
As the year draws to a close, private refineries in China known as teapot refineries are ramping up output to use up their crude import quotas for 2019 in order to apply for more quotas next year. China's independent Shandong refineries are facing a two-fold problem, a crude oil importation limitation as well as a wave of new multibillion-dollar integrated petrochem complexes that may see them consolidating, or risk going out of business altogether. Larger oil producers have maintained stable throughput levels. Click here for a list of Shandong refineries and see map below.
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