Crude oil processing rates in China reached a record last year, rising by 4 percent over 2020 to 14.13 million barrels daily, Bloomberg reported, noting that the increase was led by state refiners. The state-owned majors had to step in and compensate for drops in production in the independent refining industry as Beijing clamped down on the so-called teapots with a tax on dirtier feedstocks.
This year will likely see further increases in the amount of crude Chinese refineries process as two new facilities will come on stream. One of these, property…China Refined A Record Amount Of Crude Oil In 2021
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