BEIJING: A group of Chinese companies plans to build new pipeline and storage facilities in eastern Shandong province, the hub for the country’s independent refineries, providing much-needed infrastructure as crude oil imports into the region surge.
Shandong, home to nearly 20 independent oil plants nicknamed “teapots” due to their relatively small processing capacity, posted a 65% increase in crude imports in the first four months of 2016 on a year ago, customs data showed. This equates to an extra 851,000 barrels per day.
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