Energy Markets
Govt-backed Chinese refiner looks for oil import quota after restructuring, sources say
Jincheng Petrochemical, a. newly reorganized independent refiner controlled by the. Liaoning provincial federal government in northeastern China, is looking for. petroleum import quotas for its three plants, 4 sources with. knowledge of the matter said. Jincheng Petrochemical has actually applied to Beijing for quotas to. import 15 million metric lots of unrefined per year, which equates. to 300,000 barrels each day (bpd), or about 3% of the shipments. the world's largest unrefined importer brings in. Jincheng Petrochemical, based in the city of Panjin, was. formed by the merger of three refineries in Liaoning province. previously owned by private refiner Bora...