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China's oil 'wolves' in danger of becoming 'sheep'

Independent refiners' clout being eroded by that of new giants making petrochemicals

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While crude imports by teapots (private processors) in Shandong have been plagued by shipping and logistical challenges, the newcomers have the advantage of access to deep-water ports.

Singapore

CHINA'S independent refiners burst onto the international oil market scene only a couple of years ago and lifted the nation past the US as the world's No 1 crude buyer. Now, a new generation of firms building some of the globe's biggest plants are threatening to eclipse them....

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