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OIL: China’s Teapots Cut Feedstock Imports by 15% in 2024

OIL

Feedstock imports into Shandong province and Tianjin City by independent refineries during Jan-Aug showed an annual fall of 15%, according to OilChem.

  • Feedstock imports totalled 75.92m mt, OilChem added.
  • Feedstock arrivals have been falling due to persistently low CDU capacity utilisation rates, driven by weak refining profits.
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Feedstock imports into Shandong province and Tianjin City by independent refineries during Jan-Aug showed an annual fall of 15%, according to OilChem.

  • Feedstock imports totalled 75.92m mt, OilChem added.
  • Feedstock arrivals have been falling due to persistently low CDU capacity utilisation rates, driven by weak refining profits.