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OIL: Shandong Teapot Feedstock Imports Down 31% in Jan: OilChem

OIL

Feedstock arrivals into Shandong and adjacent regions imported by Teapots showed a monthly fall on 31.08% in January to 6.97m mt, according to OilChem.

  • The monthly fall was attributed to the changing tax scheme for feedstocks into independent refineries, which has disincentivised imports.
  • OilChem’s estimate was based on a survey of shipping fixtures. Feedstocks include crude oil, fuel oil, and bitumen mixture
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Feedstock arrivals into Shandong and adjacent regions imported by Teapots showed a monthly fall on 31.08% in January to 6.97m mt, according to OilChem.

  • The monthly fall was attributed to the changing tax scheme for feedstocks into independent refineries, which has disincentivised imports.
  • OilChem’s estimate was based on a survey of shipping fixtures. Feedstocks include crude oil, fuel oil, and bitumen mixture