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China's 'teapot' refiners bolster presence in S'pore (Amended)

Group of 17 firms has combined crude import quota of 60m tonnes and refining capacity of 70m tonnes

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Pacific Commerce, Dongming Petrochemical's subsidiary in Singapore, has a headcount of 12-13 staff, including two experienced traders, and plans to expand this to 30 as soon as possible, says Mr Zhang.

Singapore

THERE'S a new force to be reckoned with in the oil trading sector in Singapore: A coalition of independent Chinese refiners - with fresh crude oil import quotas in hand - is planning to buy crude oil through a trading office in the nation-state.

Their presence and trading