China's Teapot Refiners Stage Surprising Comeback

China's Teapot Refiners Stage Surprising Comeback

Small refiners in the Shandong province, home to China’s independent refineries, are restarting operations under new ownership in a move that could exacerbate China’s overcapacity and thin-margin problems.   Three refineries which went bankrupt last year are on track to be revived—one is already operational and talks about the restart of the other two are ongoing, unnamed traders and analysts have told Bloomberg.  Shandong Changyi Petrochemical …

China's Overcapacity Drive Faces Stubborn Oil-Refiner Revival

(Bloomberg) — China’s oil refining sector is once again showing its knack for survival just as Beijing seeks to tackle industrial overcapacity.

China’s Overcapacity Drive Faces Stubborn Oil-Refiner Revival

China’s oil refining sector is once again showing its knack for survival just as Beijing seeks to tackle industrial overcapacity.

China’s overcapacity drive faces stubborn oil-refiner revival

The issue is particularly pertinent to oil refining as the sector grapples with a likely peak in the country’s petrol demand due...