Independent China refiners' clout growing in global oil market
Beijing is widening access for these firms as part of its drive to encourage private investment
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Beijing
THEY long stood in the shadows of state-owned Chinese energy giants, small in size and clustered in an eastern province along the coast. Now, independent refiners are wielding growing clout in the global oil market.
Shandong Dongming Petrochemical Group, the biggest of dozens of privately owned refiners known as "teapots", illustrates how such processors may be coming into their own after for years depending on state-owned companies for oil. It began importing supply on its own this year after hiring two crude traders in Singapore, according to Shen Fan, a deputy general manager at Pacific Commerce Holdings Pte, its trading unit.
Share with us your feedback on BT's products and services
