Related Articles
Forward article link
Share PDF with colleagues

China still thirsty

Forget the rumours, Chinese imports of oil – for refining and strategic storage – are rising again

China's teapot refineries are unexpectedly playing a bigger role in crude imports as the country continues to top up its Strategic Petroleum Reserve (SPR) faster than expected. Combining the unexpected burst of activity by these independents with large-scale buying by the state-owned oil giants, analysts expect China to remain an important net importer of crude throughout 2017, despite the firming of oil prices since the Opec deal. Armed with new import licences issued by the National Energy Administration (NEA), in the first six months of 2016 the teapots on average imported a combined 3.23m tonnes of crude a month (about 0.78m barrels a day), roughly double the volumes of 2015. The refin

Also in this section
Middle distillates take centre stage
20 April 2018
Oil-product demand, especially for middle distillates, is rising more quickly that processing capacity. It's good news for refiners
Shipping sector braces for emissions storm
20 April 2018
Is the fuel oil market ready for tighter carbon and sulphur emissions rules on shipping?
Southern Gas Corridor project defies sceptics
16 April 2018
Azeri gas will be flowing into Europe via a new route by the summer