China’s independent refineries likely to cut H2 crude imports by 27%

Crude oil imports by China’s independent refineries are likely to fall by 27% in the second half of 2021, S&P Global Platts estimated June 11, as a probe into illegal trading reduces PetroChina Fuel Oil’s inflow, five plants face having their quota allocations reduced, and a consumption tax slashes bitumen blend imports. The independent refineries’ …

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