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China tax crackdown threatens to curb 'teapot' refiners' demand

Private refiners' future will be a hot topic at the annual Asia Pacific Petroleum Conference in Singapore this week


EVERYONE wants a share of the world's hottest oil market, including China's taxman.

Purchases by the country's independent refiners, granted permission last year to buy foreign crude, have soaked up some of the global oil glut and helped revive prices after the biggest