Most of the refineries are located in Shandong province, which can process 15 million tonnes (109.9 million barrels) of crude a year, including Shandong Dongming Petrochemical Group, the province’s biggest privately-owned refinery. Photo: Getty Most of the refineries are located in Shandong province, which can process 15 million tonnes (109.9 million barrels) of crude a year, including Shandong Dongming Petrochemical Group, the province’s biggest privately-owned refinery. Photo: Getty
Most of the refineries are located in Shandong province, which can process 15 million tonnes (109.9 million barrels) of crude a year, including Shandong Dongming Petrochemical Group, the province’s biggest privately-owned refinery. Photo: Getty

China’s teapot oil refineries could become ‘money-printing machines’ amid crude price crash

  • Lower cost of crude oil raises prospect of large profits for small refiners, who have been struggling to stay afloat amid coronavirus outbreak
  • But weak domestic market due to virus-hit economy could scupper hopes for Shandong refineries, even after boost from cheap oil

Topic |   China economy
Most of the refineries are located in Shandong province, which can process 15 million tonnes (109.9 million barrels) of crude a year, including Shandong Dongming Petrochemical Group, the province’s biggest privately-owned refinery. Photo: Getty Most of the refineries are located in Shandong province, which can process 15 million tonnes (109.9 million barrels) of crude a year, including Shandong Dongming Petrochemical Group, the province’s biggest privately-owned refinery. Photo: Getty
Most of the refineries are located in Shandong province, which can process 15 million tonnes (109.9 million barrels) of crude a year, including Shandong Dongming Petrochemical Group, the province’s biggest privately-owned refinery. Photo: Getty
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