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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

GIVE THE NOD: The government has approved seven teapot operators to get a combined 35.3 million tonnes a year of overseas crude, or about 700,000 barrels a day, according to data compiled by Bloomberg.


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...

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